Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Rimbaco Group Global Limited ( (HK:1953) ) just unveiled an update.
Rimbaco Group Global Limited announced a profit warning, indicating a significant financial downturn for the fiscal year ending October 31, 2024. The group anticipates a net loss of up to RM10 million, a sharp contrast to the RM20 million profit recorded the previous year. This decline is attributed to lower revenue from completed projects, a substantial descope of a factory project, smaller new projects, and reduced profit margins due to competitive pricing.
More about Rimbaco Group Global Limited
YTD Price Performance: -22.05%
Average Trading Volume: 208,214
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: HK$136.1M
For a thorough assessment of 1953 stock, go to TipRanks’ Stock Analysis page.