United Energy Group (HK:0467) has released an update.
United Energy Group has issued a profit warning, anticipating a net profit decline of 35-45% for the first half of 2024 compared to the same period in 2023, due to increased production costs and depreciation. The preliminary figures, still subject to finalization and audit, highlight the impact of high inflation and operational expansions on the company’s finances. Investors are advised to exercise caution and await the official interim results announcement due by late August 2024.
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