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Hong Kong stocks abnormal | Dickson concept falls more than 9%, expected mid-term profit decline of about 40%.
Dickson Concept (0113.HK) fell more than 9% to HK$4.3 in the early trading on November 21, with the stock price hitting a new low since March this year. The group issued a profit warning, expecting a decrease of about 40% in shareholders' net profit for the first half of the year ending September. The main reason is the decline in sales and profits in Hong Kong. The company had shareholders' attributable profit of 0.22 billion Hong Kong dollars in the same period last year. The company stated that due to extremely weak consumer confidence in Hong Kong, consumers from various income levels are increasingly traveling to cities outside China such as Shenzhen, where these cities offer more value, higher service levels, and diverse experiences in entertainment and shopping; combined with the weakness of the Japanese yen.
Dickson Concepts Flags 40% Decline in Fiscal H1 Profit
Dickson Concept (00113.HK) issued a profit warning: It is expected that the mid-term attributable shareholders' net profit will decrease by approximately 40%.
Gronghui Nov 20th | Dickson concept (00113.HK) announced that the group expects a decrease of approximately 40% in the net amount of profits attributable to shareholders for the six months ended September 30, 2024, compared to the six months ended September 30, 2023. Although the profit earned by the investment department has increased, this decrease is mostly due to the decline in sales and profits in Hong Kong. The board of directors hereby emphasizes that the group's financial position and net cash balance remain very strong. The group will be able to take advantage of this strength, fully grasp any further improvement in market conditions, and seize new investment opportunities to diversify and expand its earnings.
DICKSON CONCEPT: Profit Warning
Dickson Concept (00113.HK) will hold a board meeting on November 28 to discuss and approve the publication of its interim results.
Gelonghui November 18th | Dickson Concept (00113.HK) announced that the company will hold a board of directors meeting on November 28, 2024 (Thursday) to discuss (including) approval of the publication of a mid-year performance announcement for the company and its subsidiaries for the six months ending September 30, 2024, as well as consider distributing interim dividends.
DICKSON CONCEPT: Date of Board Meeting
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