Newton Resources Ltd. (HK:1231) has released an update.
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Newton Resources Ltd. issues a profit warning as it anticipates a net loss of approximately $1 million for 2024, compared to a $2.4 million profit in 2023. This downturn is attributed to a decrease in both the quantity and quality of iron ore supply, coupled with weak demand, affecting the company’s gross profit. Investors are advised to approach the company’s shares with caution.
For further insights into HK:1231 stock, check out TipRanks’ Stock Analysis page.