MOBICON GROUP (01213) issues profit warning, with the anticipated mid-term loss attributable to shareholders expected to increase by about HK$4-6 million compared to the same period last year.

MOBICON GROUP (01213) announced that the Group is expected to incur a loss attributable to shareholders of approximately HK$40 to HK$60 million for the six months ending on September 30, 2024. This is an increase from the loss of approximately HK$23 million incurred for the six months ending on September 30, 2023. The announcement stated that the significant increase in the loss was mainly due to one of the Group's subsidiaries in South Africa experiencing a decrease in revenue due to a drop in demand for electrical components during the reporting period, which had an adverse impact on the Group's financial performance.