Raffles Interior Expects Profit Decline in 2024

Raffles Interior Ltd. (HK:1376) has released an update.

Raffles Interior Limited has issued a profit warning, indicating that it expects a significant decrease in net profit to not more than S$1 million for the first half of 2024, down from S$2.2 million in the previous year. The anticipated drop is attributed to reduced revenue from the fitting-out segment and losses from the revaluation of a convertible bond. Shareholders and potential investors are urged to exercise caution when dealing with the company’s shares.

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