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Best Mart 360 Warns of Up to 40% Profit Drop in Fiscal H1

MT Newswires ·  {{timeTz}}

12:25 AM EDT, 11/03/2021 (MT Newswires) -- Best Mart 360 Holdings (HKG:2360) expects profit attributable to owners to slump between 35% to 40% for the six months ended Sept. 30, as compared with HK$35.7 million ($4.6 million) recorded a year earlier.

The company attributed the downbeat projection to the absence of government subsidy worth HK$21 million, which was granted in the year-ago period, according to a late Tuesday filing.

Other factors include the company's adjusted business strategies and opening of 10 retail outlets during the reported six months.

The operator of retail stores expects to publish interim results in late November, it added.

Shares of the company slid over 1% at midday.

Price (HKD): $1.79, Change: $-0.02, Percent Change: -1.10%

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