Applied Development Holdings (HK:0519) has released an update.
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Applied Development Holdings Limited has issued a profit warning, indicating an expected loss of HK$55,670,000 for the financial year ending June 30, 2024, a notable increase from the previous year’s loss of HK$43,666,000. This anticipated rise in loss is primarily due to a substantial litigation provision and changes in deferred tax expenses, among other factors. The company cautions shareholders and potential investors to consider these preliminary, unaudited figures carefully, as the official audited annual results will be disclosed in late September 2024.
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