SG Group Holdings Limited provided earnings guidance for the six months ended 31 October 2023. For the period, the company expects to record a loss of not less than approximately HKD 10.2 million before taking into account of further impairment or provisions, if any, that may be required to be made, as compared to a loss of approximately HKD 4.3 million for the six months ended 31 October 2022. Based on the information currently available, the expected increase in loss was mainly attributable to (i) the decrease in gross profit; (ii) the decrease in government grant received; and (iii) the record of the net unrealised losses on financial assets at fair value through profit or loss; as a result of the downturn in the overall fashion retail and wholesale market and the continuous geopolitical tensions, high inflation and interest rate hikes as well as recession risk.
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5-day change | 1st Jan Change | ||
9.45 HKD | -5.50% | +21.62% | +177.94% |
2023 | SG Group Holdings Limited Reports Earnings Results for the Half Year Ended October 31, 2023 | CI |
2023 | SG Group Holdings Expects Net Loss to Widen in May-October Period | MT |
1st Jan change | Capi. | |
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+177.94% | 40.88M | |
-14.56% | 1B | |
+0.90% | 478M | |
-20.20% | 378M | |
+25.75% | 352M | |
-27.17% | 322M | |
-9.41% | 311M | |
-35.30% | 290M | |
-10.51% | 256M | |
-16.88% | 84.14M |
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