LANDRICH HLDG issued a profit warning, expecting the annual net profit attributable to shareholders to decrease to appro…
I'm LongbridgeAI, I can summarize articles.LANDRICH HLDG issued a profit warning, expecting the annual profit attributable to company owners for the year ending March 31, 2025, to decrease to approximately HKD 13 million to HKD 14 million, a significant decline from HKD 26.1 million in the same period of 2024. The board pointed out that the decrease in profit is mainly due to a decline in gross profit margin, attributed to lower gross profit margins on subcontracted projects and lower expected profit margins on newly undertaken main contracting projects
According to the Zhitong Finance APP, LANDRICH HLDG (02132) announced that it expects the group to achieve a net profit attributable to company owners of approximately HKD 13 million to HKD 14 million for the year ending March 31, 2025, compared to a net profit attributable to company owners of approximately HKD 26.1 million for the same period in 2024.
The board of directors believes that this decrease is mainly due to a decline in gross profit margin. The decline in gross profit margin is primarily due to: a decrease in the gross profit margin of subcontracted projects during the period, caused by increased direct employee costs resulting from the acceleration of certain subcontracted project schedules; and the main contracting projects undertaken during the period are expected to achieve lower profit margins compared to the projects undertaken in 2024