Luen Thai Holdings Limited (HK:0311) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Luen Thai Holdings Limited has issued a profit warning, anticipating a loss of between $9.5 million and $10.5 million for the first half of 2024, a stark contrast to the modest profit of approximately $284,000 in the same period of 2023. The company attributes the expected losses to a decrease in revenue due to reduced customer orders, one-off severance payments, and high interest rates. Luen Thai’s management is taking proactive steps to mitigate risks, improve efficiency, and adjust business strategies in response to market conditions.
For further insights into HK:0311 stock, check out TipRanks’ Stock Analysis page.
Trending Articles:
- “The No. 1 Destination for the Most Talented Artists”: Netflix Stock (NASDAQ:NFLX) Notches Up as the Duffer Brothers Consider Jumping Ship
- “Breakthrough EVs”: Ford Stock (NYSE:F) Notches Up on New Battery Details
- “An Equity Stake”: Intel Stock (NASDAQ:INTC) Surges as U.S. Government May Buy In With CHIPS Act Money