Rimbaco Group Global (HKG:1953) expects a consolidated net loss attributable to the owners of about 10 million yuan for the year ended Oct. 31, 2024, compared with a consolidated net profit of 20 million yuan in the prior year.

The company attributed the downbeat forecast to lower revenue and profit margins, smaller new projects, and a substantial reduction in scope at a factory project.

Rimbaco plans to publish its annual results by Jan. 31, according to a Tuesday filing with the Hong Kong bourse.

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