Tao Heung Holdings Reports Sharp Profit Decline

Tao Heung Holdings Limited (HK:0573) has released an update.

Tao Heung Holdings Limited reported a significant decrease in financial performance for the first half of 2024, with revenue dropping by 14.6% and profit plunging by 73.9% compared to the same period in 2023. The company’s profit attributable to equity holders fell drastically by 88%, alongside a cut in interim dividend per share from 3.00 HK cents to none. This period also saw a reduction in the number of restaurants and bakery outlets by approximately 20%.

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