KELFRED issues a profit warning, expecting a net loss of approximately HKD 4.7 million in the first half of the year
KELFRED expects a net loss of approximately HKD 4.7 million in the first half of 2025, a decrease from the net loss of HKD 12.3 million in the first half of 2024. The board pointed out that the reduction in losses is mainly due to an increase in sales orders and cost-saving measures that improved gross profit, but the exchange loss caused by the appreciation of the RMB offset the previous exchange gains from the depreciation of the RMB
According to the Zhitong Finance APP, KELFRED (01134) announced that the group expects to incur a net loss of approximately HKD 4.7 million in the first half of 2025, compared to a net loss of approximately HKD 12.3 million in the first half of 2024.
The board believes that the expected reduction in net loss during this reporting period is mainly due to an increase in sales orders and the implementation of cost-saving measures, which have improved the gross profit generated from the sale of eyewear products. However, this improvement was offset by exchange losses arising from the appreciation of the Renminbi during this period, which countered the exchange gains from the depreciation of the Renminbi in previous periods
