MECOM Power & Construction Ltd. (HK:1183) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
MECOM Power and Construction Ltd. has issued a profit warning, expecting a significant decrease in profits for the six-month period ending June 2024, with anticipated earnings of MOP10.4 million to MOP12.8 million compared to MOP38.2 million in the previous year. The downturn is attributed to reduced revenue from construction projects and a fall in average rebar prices impacting their steel structures business. Investors are advised to exercise caution and anticipate the company’s detailed interim results by the end of August 2024.
For further insights into HK:1183 stock, check out TipRanks’ Stock Analysis page.