Founder Holdings (HK:0418) has released an update.
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Founder Holdings Limited has issued a profit warning indicating a significant reduction in losses to not more than HK$6 million for the first half of 2024, compared to a loss of approximately HK$26.9 million in the same period of the previous year. The improvement is credited to a one-off gain, reduced staff costs, and a smaller foreign exchange loss due to a stable Renminbi. Final financial details are pending and will be announced by the end of August 2024, with a cautionary note to shareholders and potential investors to exercise caution when dealing in the company’s securities.
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