Universe Entertainment Expects Reduced Annual Loss

Universe Entertainment and Culture Group Company Limited (HK:1046) has released an update.

Universe Entertainment and Culture Group Company Limited has pre-announced a narrower annual loss for the year ended June 30, 2024, projecting a loss between HK$25 million and HK$40 million, a significant improvement from the previous year’s HK$93.4 million loss. The company attributes this reduction to increased revenue from film distribution and licensing, as well as reduced impairment losses on film-related assets. Shareholders and potential investors are cautioned to exercise care when trading shares until the final results are published in late September 2024.

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