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Rimbaco Group Global Limited Issues Profit Warning for 2024

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Rimbaco Group Global Limited Issues Profit Warning for 2024

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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.

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