Luen Thai Holdings Limited (HK:0311) has released an update.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
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:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue