Playmates Holdings Faces Major Interim Losses

Playmates Holdings (HK:0635) has released an update.

Playmates Holdings Limited reported a significant downturn in their interim results for the first half of 2024, with a group revenue increase to HK$526,666,000 from HK$427,006,000 in 2023, but a substantial net loss attributable to owners at HK$159,880,000 compared to a profit in the previous year. The toy business remains the company’s main revenue driver, while property investments experienced a revaluation deficit, contributing to an operating loss. Despite the challenging economic climate affecting retail and residential property demand, Playmates Holdings anticipates long-term value in its strategic property improvements and commercial conversions.

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