Star Group Company Limited (HK:1560) has released an update.
Star Group Asia Limited has issued a profit warning, anticipating a significant increase in losses for the six months ended June 30, 2024, amounting to roughly HK$219 million, compared to the previous year’s HK$30 million. The increased loss is primarily due to gross losses from property sales, a write-down of properties held for sale, and heightened finance costs. Shareholders and potential investors are cautioned to await the official interim results announcement due on August 29, 2024, before making any decisions.
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