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Grand Ming (01271.HK) warns of earnings: mid-term net profit expected to decline by about 50% to 60%.
Grand Ming Group Holdings (01271.HK) announced on November 15th that for the six months ended September 30, 2024, the Group is expected to record a decrease of approximately 50% to 60% in net profit compared to the six months ended September 30, 2023, with a net profit of about 0.1111 billion Hong Kong dollars. The announcement stated that the decline in net profit for this period was mainly attributed to a significant decrease in revaluation gains on investment properties generated during this period as compared to the same period last year; however, this was partially offset by an increase in underlying profit for the period (defined as net profit after tax excluding fair value changes of investment properties). Underlying profit.
Grand Ming Group Holdings (01271.HK) plans to hold a board of directors meeting on November 26 to approve the mid-term performance.
Gelonghui, November 14th – Grand Ming (01271.HK) announced that a board of directors meeting will be held on November 26, 2024 (Tuesday) to consider and approve the unaudited interim results of the company and its subsidiaries for the six months ended September 30, 2024, as well as to consider the distribution of an interim dividend (if any).