Pacific Textiles Holdings Reports Decline in Profits

Pacific Textiles Holdings (HK:1382) has released an update.

Pacific Textiles Holdings reported a decrease in profit for the first half of 2024, with net income dropping to HK$104.19 million from HK$128.25 million in the same period last year, despite an increase in revenue. The company faced challenges including impaired trade receivables and higher distribution expenses, which contributed to the decline in operating profit. Investors might find the improved comprehensive income of HK$110.79 million noteworthy, reflecting favorable currency translation differences.

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