Carrianna (00126.HK) issued a profit warning: expected annual loss not exceeding 280 million Hong Kong dollars.

Carrianna (00126.HK) announced on June 20 that the group is expected to incur a loss of no more than HKD 280 million for the fiscal year ending March 31, 2024, which is approximately HKD 170 million more than the previous fiscal year. The increase in the group's loss compared to the previous year was mainly due to: (i) operational losses in the food business due to a decrease in mooncake sales; (ii) impairment of goodwill and right-of-use assets due to the contraction of the Hong Kong-style "tea restaurants" business; and (iii) an increase in financial costs due to the rise in bank borrowing rates.

Gelonghui FinanceJun 20 10:46 ET

Express News | Carrianna Group Holdings - Expected Result Due to Increase in Finance Costs During Year, Among Others

ReutersJun 20 10:43 ET

Express News | Carrianna Group Sees Loss of Not More Than HK$280 Mln for Year

ReutersJun 20 10:43 ET

CARRIANNA: PROFIT WARNING

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