ISP Global (08487) issued a profit warning. It is expected to record a net loss of about 26 million to 29 million yuan (same below) for the fiscal year ending June 30, 2023, and a net loss attributable to company owners of about 22.8 million yuan for the year ended June 30, 2022.
The increase in net loss was mainly due to increased administrative costs and wage expenses arising from the expansion and operation of part of the Group's Brand E-Commerce Operation Service Division (EC Division) in China. The company's EC division recorded a sharp increase in gross profit during the year, but this was offset by a sharp increase in expenses generated by the EC division's business expansion in China.