Raffles Interior Ltd. Faces Sharp Profit Decline

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

Raffles Interior Limited reported a significant decrease in net profit to S$87,000 for the six months ended 30 June 2024, down from S$2.2 million in the same period in 2023, as shown in their unaudited interim results. The company’s revenue also saw a substantial drop from S$52.9 million to S$24.3 million. This stark decline in financial performance is attributed to higher costs of sales and administrative expenses, despite a slight increase in finance income.

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