STARLITE HOLD issued a profit warning, expecting an annual loss attributable to shareholders of no more than HKD 28 million
STARLITE HOLD expects to record a loss attributable to shareholders of no more than HKD 28 million for the year ending March 31, 2025, compared to a profit of approximately HKD 17 million in the same period last year. The reasons for the loss include a decrease in orders due to increased tariffs imposed by the U.S. government, higher promotion costs for green initiatives, and impairment losses on investment properties
According to the announcement from STARLITE HOLD (00403), the group expects to incur a loss attributable to the company's owners of no more than HKD 28 million for the year ending March 31, 2025, compared to a profit of approximately HKD 17 million attributable to the company's owners in the same period last year.
The announcement stated that the aforementioned loss is mainly due to (1) the increase in tariffs by the U.S. government, leading to a decrease in orders from U.S. customers, offsetting the positive impact of strengthened cost control; (2) an increase in losses for the green group compared to the previous fiscal year, due to increased promotional costs and the expansion of online and offline sales networks; and (3) provisions for impairment losses on investment properties
