TOM Group Faces Revenue Decline Amidst Global Challenges

TOM Group (HK:2383) has released an update.

TOM Group reported a 9.6% decrease in consolidated revenue to HK$342 million for the first half of 2024, attributed to a strong US dollar, global inflation, and geopolitical issues. Despite a challenging environment, the Group’s Publishing division in Taiwan maintained market leadership with HK$328 million in gross revenue, while the e-commerce investment Ule narrowed its net loss by 40.8%. The Group plans to continue pursuing growth opportunities and maintain a prudent financial profile.

For further insights into HK:2383 stock, check out TipRanks’ Stock Analysis page.