Planetree International Flags Increased H1 Losses

Planetree International Development Limited (HK:0613) has released an update.

Planetree International Development Limited has issued an update on its profit warning, indicating an expected unaudited consolidated loss before tax of about HK$94.2 million for the first half of 2024, largely due to additional impairment losses. The losses are described as a non-cash accounting treatment and reportedly do not affect the company’s operating cash flows. Investors are urged to exercise caution and await the forthcoming detailed interim results announcement set for release on 29 August 2024.

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