Realord Group Expects Major First-Half Losses

Realord Group Holdings Limited (HK:1196) has released an update.

Realord Group Holdings Limited has issued a profit warning, expecting a net loss of HK$500 million to HK$520 million for the first half of 2024, a stark contrast to the HK$48.6 million profit in the same period last year. The decline is attributed to a decrease in revenue across its Environment Protection, Motor Vehicle Parts, Commercial Printing, and Department Store segments, only partially offset by increases in Property Investment and Citizenship Consultancy services. The losses were compounded by loss on fair value changes of investment properties and higher provision for expected credit losses on trade receivables.

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