AEC Group (08320) issues profit warning, expected to have a mid-term loss of approximately 5.9 million Hong Kong dollars attributable to shareholders, turning from profit to loss year-on-year.

AEC GROUP (08320) announced that the group is expected to incur a loss of approximately HK$5.9 million for the six months ending on September 30, 2024, attributable to the owners of the company. This is a significant decrease compared to the profit of approximately HK$48,000 attributable to the owners of the company for the six months ending on September 30, 2023. The shift from profit to loss is mainly due to a decrease in revenue and gross profit margin, increased employee costs to retain talent, and increased expenses for the expansion of overseas business.