LANDRICH HOLDINGS (02132) issues profit warning, expecting a decrease in mid-term net profit to around HK$2-3 million.

LANDRICH HLDG(02132) announced that the group is expected to achieve a net profit of approximately HK$2 million to HK$3 million for the six months ended September 30, 2024, compared to a net profit of approximately HK$17.6 million for the same period in 2023. The directors believe that this decrease is mainly due to a decline in gross margin. The decrease in gross margin is mainly attributed to delays in the evaluation of land instructions and instructions for certain projects, as well as an increase in construction costs and staff costs.