Frontier Services Group Faces Sharp Profit Decline

Frontier Services Group (HK:0500) has released an update.

Frontier Services Group Limited reported a significant decrease in profits for the six-month period ending June 30, 2024, with earnings dropping from 54,869 HK$’000 in 2023 to just 5,313 HK$’000. The decline is attributed to reduced revenue from contracts with customers and higher costs across several categories including direct materials, job expenses, and employee benefits. Basic and diluted earnings per share have likewise plummeted from 2.14 cents to a mere 0.001 cents.

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