Regina Miracle International (Holdings) Limited (HK:2199) has released an update.
Regina Miracle International (Holdings) Limited anticipates a significant drop in net profit of up to 65% and in adjusted net profit of up to 30% for the fiscal year ending March 2024, primarily due to decreased sales amid a global economic downturn, restructuring costs, and higher finance costs from rising interest rates. Nevertheless, the company expects a rebound in order growth in the first half of the following fiscal year as customer destocking cycles conclude. Shareholders and potential investors are advised to be cautious as the final annual results are still pending, with the official report to be finalized by June 30, 2024.
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