FULUM GP HLDG (01443) issues profit warning, expecting a mid-term net loss of approximately HK$40-50 million for its shareholders, turning from profit to loss year-on-year.

FULUM GP HLDG (01443) announced that it is expected that the group will incur a net loss attributable to owners of the company of approximately HK$40 million to HK$50 million for the period (6 months ended September 30, 2024), compared to a net profit attributable to owners of the company of approximately HK$1.9 million in the same period last year. The Board believes that the above-mentioned loss is mainly due to the challenging business environment, which has adversely affected consumer sentiment and non-essential spending patterns. In the uncertain economic situation, consumer spending continues to decline, coupled with the trend of mainland Chinese consumers shopping in nearby cities, leading to a significant decrease in the group's revenue.