Pioneer Global Group Limited (HK:0224) has released an update.
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Pioneer Global Group Limited has issued a profit warning, alerting shareholders and potential investors that it expects to report a consolidated loss of HK$48 million to HK$55 million for the fiscal year ending March 31, 2024. This anticipated loss marks a significant downturn from the previous year’s net profit of HK$64 million, mainly due to substantial losses from associated companies, such as The Regent Hotel Hong Kong. The company urges caution when dealing in its securities and is scheduled to publish the final annual results on June 25, 2024.
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