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ERNEST BOREL: 2024 ANNUAL RESULTS ANNOUNCEMENT
Ernest Borel Holdings Issues Profit Warning Amid Market Challenges
ERNEST BOREL (01856.HK) expects a loss not to exceed 48 million Hong Kong dollars in 2024.
On March 25, Gelonghui reported that ERNEST BOREL (01856.HK) announced that the company expects to record a loss of no more than HKD 48 million for the 12 months ending December 31, 2024, compared to a profit attributable to owners of HKD 18.9 million for the same period last year. The group's performance loss is mainly attributed to (i) goodwill impairment; (ii) inventory provisions; and (iii) weak consumer market sentiment, resulting in customers placing orders more conservatively than before. The Board of Directors believes that changes in goodwill impairment and inventory provisions are non-cash, non-recurring, and one-time in nature, and cannot represent.
Express News | Ernest Borel - Net Loss Due to Impairment Loss on Goodwill, Others in FY
Express News | Ernest Borel - Expected Net Loss of Not More Than HK$48 Million for 2024
Ernest Borel Holdings to Review Annual Results and Dividend Proposal