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The latest announcement is out from Sitoy Group Holdings Limited ( (HK:1023) ).
Sitoy Group Holdings Limited has issued a profit warning, anticipating a loss between HK$60 million and HK$75 million for the six months ended December 31, 2024, compared to a profit of HK$53.55 million in the same period in 2023. This downturn is attributed to global economic uncertainties reducing demand in their manufacturing sector and a significant one-off loss from terminating the Cole Haan Business. Despite efforts in boosting retail revenue through e-commerce, the company expects a pre-tax segment loss due to inventory and capital expenditure write-offs. Meanwhile, the property investment segment is predicted to remain stable but will record a pre-tax loss due to revaluation losses.
More about Sitoy Group Holdings Limited
Sitoy Group Holdings Limited is a company incorporated in the Cayman Islands with limited liability. It operates in the manufacturing industry, focusing on leather goods and accessories. The company is also involved in retail and property investment segments, with an emphasis on e-commerce platforms for its retail operations.
Average Trading Volume: 387,981
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$510.2M
For a thorough assessment of 1023 stock, go to TipRanks’ Stock Analysis page.
