Skymission Group Holdings Limited (HK:1429) has released an update.
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Skymission Group Holdings Limited, a formwork subcontractor in Hong Kong, has issued a profit warning, anticipating a net loss for FY 2024 in the range of HK$30 million to HK$40 million, in stark contrast to the net profit of HK$33.5 million in FY 2023. The expected downturn is attributed to factors including poor economic sentiment, increased competition for contracts, higher wages, and additional on-site costs. The Group is focusing on cost control and risk management to navigate these challenges.
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