PEGASUS INT'L issued a profit warning, expecting a pre-tax loss of USD 1.5 million for the fiscal year 2024
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PEGASUS INT'L issued a profit warning, expecting a pre-tax loss of USD 1.5 million for the fiscal year 2024, a significant decline from the pre-tax profit of USD 120,000 in the same period of 2023. The loss is mainly due to the sluggish property market in China, with an expected fair value loss of approximately USD 2.8 million on investment properties. Nevertheless, the board stated that the overall operations and cash position of the group remain robust, and the fair value loss is a non-cash item that does not affect cash flow, with an expected cash position of approximately USD 8.8 million as of December 31, 2024
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