Q P GROUP issues a profit warning, expecting annual profit attributable to shareholders to increase to approximately HKD…
I'm LongbridgeAI, I can summarize articles.Q P GROUP expects that the annual profit attributable to shareholders for the year ending December 31, 2024, will increase year-on-year to approximately HKD 115 million to HKD 135 million, an improvement compared to HKD 80.1 million for the fiscal year 2023. The board of directors pointed out that the performance improvement is mainly due to the growth in website sales and increased demand from major customers for board games and greeting card products, while operational and production efficiency continues to improve, although partially offset by increased administrative expenses
According to the announcement from Q P GROUP (01412), the group expects to achieve a consolidated profit attributable to equity holders of the company ranging from approximately HKD 115 million to HKD 135 million for the year ending December 31, 2024 (fiscal year 2024), compared to approximately HKD 80.1 million for the year ending December 31, 2023 (fiscal year 2023).
The board of directors believes that the performance of the group in fiscal year 2024 has improved compared to fiscal year 2023, mainly due to (including) (i) an increase in website sales and a rise in demand for board game products and greeting card products from major customers of original equipment manufacturers, which has driven an increase in original equipment manufacturer sales, resulting in a positive impact from better economies of scale; and (ii) continuous improvement in operational and production efficiency, although partially offset by an increase in administrative expenses