NEWTON RES issues profit warning, expects mid-term net loss of approximately USD 500,000
NEWTON RES issued a profit warning, expecting a net loss of approximately USD 500,000 for the six months ending June 30, 2025, a significant decrease from the net profit of USD 1.4 million in the same period of 2024. The decline in performance is mainly due to a decrease in gross profit, attributed to reduced iron ore supply from major suppliers and weak demand for iron ore from the group, resulting in a substantial decline in unit gross profit
According to the Zhitong Finance APP, NEWTON RES (01231) announced that the group expects to incur a net loss of approximately USD 500,000 for the six-month period ending June 30, 2025, compared to a net profit of approximately USD 1.4 million for the six-month period ending June 30, 2024.
The decline in the group's performance during this period is mainly attributed to a decrease in gross profit compared to the same period last year. The decline in gross profit is primarily due to two factors: a reduction in iron ore supply from the group's main suppliers compared to the same period last year, leading to a decrease in sales and gross profit; and a significant decline in unit gross profit of iron ore due to weak demand for the group's iron ore during this period
