Tai Hing Group Holdings (HKG:6811) expects a profit attributable to the owners between HK$60 million and HK$65 million for 2024, lower than HK$93.8 million from 2023, a Friday Hong Kong bourse filing said.
The restaurant group attributed the expected decrease to northbound consumption inclination of Hong Kong residents, a downgrade in consumption in Hong Kong and China resulting from the economic conditions, and the impairment of provisions for assets and closure-related expenses during the reporting period.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.