FULUM GP HLDG issued a profit warning, expecting an annual loss attributable to shareholders of approximately HKD 64 million to HKD 69 million
FULUM GP HLDG expects an annual loss attributable to shareholders of approximately HKD 64 million to HKD 69 million for the year ending March 31, 2025, compared to a profit of approximately HKD 50.6 million in the same period last year. The board pointed out that the loss is mainly due to economic uncertainty leading to a downgrade in consumption and a decrease in revenue. The company will increase investment in system upgrades, improve operational efficiency, and adjust its brand portfolio and close unprofitable stores to respond to market challenges
According to the announcement from FULUM GP HLDG (01443), the group expects to incur a loss attributable to the owners of the company ranging from approximately HKD 64 million to HKD 69 million for the year ending March 31, 2025, compared to a profit attributable to the owners of the company of approximately HKD 50.6 million in the same period last year.
The board believes that the aforementioned loss is primarily due to ongoing consumer downgrading amid economic uncertainty, leading to a decrease in revenue that outweighs the positive impact of reduced employee costs, rental expenses, and financial costs. At the same time, to respond to the continuously changing market environment, the company has increased investments during this period to upgrade systems and improve operational efficiency, adjust the brand portfolio, and close underperforming stores to meet future challenges
