HM INTL HLDGS issued a profit warning, expecting an annual loss of no less than HKD 8.3 million, turning from profit to loss year-on-year
HM International Holdings issued a profit warning, expecting an annual loss of no less than HKD 8.3 million for the year ending December 31, 2024, a significant turnaround from a profit of HKD 6.5 million in the same period of 2023. It is anticipated that revenue during the reporting period will decrease by no more than 11%, mainly due to a decline in revenue from financial printing projects, one-time expenses of approximately HKD 3 million related to office relocation, and goodwill impairment losses of approximately HKD 3 million
According to the announcement from HM INTL HLDGS (08416), the group expects to incur a loss of no less than HKD 8.3 million for the year ending December 31, 2024, compared to a profit of approximately HKD 6.5 million for the year ending December 31, 2023. In addition, the group anticipates that its revenue during the reporting period will decrease by no more than 11.0% compared to the revenue of approximately HKD 179 million for the corresponding period.
The financial performance shift from profit to loss and the decrease in revenue are mainly attributed to the decline in revenue from the financial printing project; one-time expenses of approximately HKD 3 million related to the relocation of office properties during the reporting period; and goodwill impairment losses of approximately HKD 3 million
