tiprankstipranks
Company Announcements

APAC Resources Issues Profit Warning Amid Expected Losses

Story Highlights
  • APAC Resources anticipates a significant loss of at least HK$300 million for 1H FY2025.
  • The loss is due to decreased financial asset values and impairment related to Mount Gibson Iron Limited.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
APAC Resources Issues Profit Warning Amid Expected Losses

Discover the Best Stocks and Maximize Your Portfolio:

An announcement from APAC Resources ( (HK:1104) ) is now available.

APAC Resources Limited, a company listed on the Hong Kong Stock Exchange, has issued a profit warning for the first half of fiscal year 2025. The company anticipates a significant loss of at least HK$300 million, a stark contrast to the HK$593 million profit recorded during the same period in the previous year. The expected loss is attributed to a decrease in the fair value of financial assets and an impairment loss related to its associate, Mount Gibson Iron Limited. Despite these challenges, the company’s cash position and liquidity remain materially unaffected.

More about APAC Resources

YTD Price Performance: 9.17%

Average Trading Volume: 500

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $165.5M

See more data about 1104 stock on TipRanks’ Stock Analysis page.

Related Articles
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1