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CAFE DE CORAL H Sinks 3.5% to 22-Yr+ Low, Expects Max. 70% Drop in 1FH NP
Recommend 11 Positive 12 Negative 25 |
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CAFE DE CORAL H (00341.HK) issued a profit warning after the bell yesterday (6th), projecting a 65-70% slump in its net profit for 1FH ended September. The stock opened down 1.9% this morning (7th) and once slid to HKD5.96, the lowest since the SARS outbreak in mid-2003. It last traded at HKD6.05, down 3.51%, with a trading volume surging to 3.6273 million shares, involving HKD21.9389 million. CAFE DE CORAL H also estimates its adjusted EBITDA to dive by around 30% YoY in 1FH. The expected profit decline is attributable to a decreased gross profit caused by a mid-single-digit drop in revenue during the period, as well as a fair value loss on investment properties. AAStocks Financial News |
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