The latest announcement is out from Mainland Headwear Holdings ( (HK:1100) ).
Mainland Headwear Holdings Limited has issued a profit warning, indicating a projected drop of at least 50% in consolidated profit for the year ending December 31, 2024, compared to the previous year. This decline is attributed to weak consumer confidence in Europe and the US, inventory reductions by major customers, operational losses from a new factory in Mexico, and a newly acquired subsidiary in the Netherlands. Additionally, the absence of a one-off profit from a property disposal in 2023 has impacted the financial results.
More about Mainland Headwear Holdings
Mainland Headwear Holdings Limited operates in the headwear industry, focusing on the design, manufacture, and sale of headwear products. The company serves a global market with a particular emphasis on the United States and Europe.
YTD Price Performance: 8.75%
Average Trading Volume: 24,330
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: HK$746.7M
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