Luen Thai Holdings Limited (HK:0311) has released an update.
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Luen Thai Holdings Limited reported a downturn in its financial performance for the first half of 2024, with a significant drop in revenue from US$340,222,000 to US$304,522,000 compared to the same period in 2023, and a swing from a modest profit to a loss of US$9,728,000. The company’s earnings per share also turned negative, with a loss of 0.94 US cents per share, in stark contrast to the earnings of 0.03 US cents per share in the previous year. This reflects challenges faced by the company in a changing economic landscape.
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