MTT Group Holdings Limited (HK:2350) has released an update.
MTT Group Holdings Limited has issued a profit warning, expecting a net loss of at least HK$10 million for the fiscal year ending March 31, 2024, a stark contrast to the HK$43.7 million net profit from the previous year. The anticipated loss is attributed to increased competition affecting sales and margins in both their content delivery network licenses and system integration solutions, as well as a lack of government subsidies received in the prior year. Shareholders and investors are advised to exercise caution when dealing in the company’s shares until the final results are published in late June 2024.
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