Carry Wealth Holdings Forecasts Increased Losses

Carry Wealth Holdings Limited (HK:0643) has released an update.

Carry Wealth Holdings Limited has issued a profit warning, revealing an expected loss of HK$12.0 million for the first half of 2024, which is significantly higher than the loss in the corresponding period last year. The anticipated loss is primarily due to increased interest expenses, decreased gross profit margins from their Heshan factory’s underperformance and lower sales of high-margin childrenswear, as well as one-off costs associated with the factory’s restructuring. Investors are advised to exercise caution and await the detailed interim results to be published by late August 2024.

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