Veeko International Projects Major Loss Amid Sales Decline

Veeko International Holdings Limited (HK:1173) has released an update.

Veeko International Holdings Limited has issued a profit warning, anticipating a significant loss between HK$45 million and HK$53 million for the first half of 2024, compared to a much smaller loss last year. The downturn is attributed to declining sales in cosmetics and fashion, increased finance costs, and unfavorable currency exchange rates. Despite these challenges, the company is implementing strategic adjustments and cost-optimization measures aimed at long-term growth and improved profitability.

For further insights into HK:1173 stock, check out TipRanks’ Stock Analysis page.