KINGMAKER (01170) issues profit warning, expected to incur a loss of approximately HK $12 million to HK $15 million for the interim period.

KINGMAKER (01170) announced that it is expected to incur a net loss attributable to owners of the company of approximately HK$12 million to HK$15 million for the six months ending 30th September 2024, compared to a profit in the same period last year. The announcement stated that the expected loss is mainly attributed to: a decrease in the group's turnover by approximately 15% compared to the same period last year, leading to diminishing economies of scale and an increase in fixed costs proportionally; a significant increase in labor costs compared to the same period last year; a decrease in the share of profits from the associated company located in central Vietnam; and an estimated fair value loss from the revaluation of investment properties in mainland China and Hong Kong.