THELLOY DEV (01546) issues profit warning, expecting to incur a net loss of not more than 14 million Hong Kong dollars in the mid-term, compared to a profit in the same period last year.

THELLOY DEV (01546) announced that based on the preliminary review of unaudited financial information for the six months ended September 30, 2024, the Group is expected to incur a net loss not exceeding HK$14 million, compared to a net profit of approximately HK$240,000 for the six months ended September 30, 2023. The change in performance for the period is mainly attributed to an increase in direct costs, including subcontracting costs and direct employee costs; and an increase in financing costs, primarily due to an increase in interest rates or bank borrowings during the period.