The latest update is out from Best Food Holding Co. Ltd. ( (HK:1488) ).
Best Food Holding Co. Ltd. has issued a profit warning, anticipating an increase in net loss to not more than RMB280 million for the year ending December 31, 2024, compared to a net loss of RMB163 million in 2023. This expected loss is primarily due to the impairment of trademarks and investments in certain associates, driven by the closure and underperformance of some restaurants and a decrease in enterprise value to sales multiples. Despite these challenges, the company plans to adjust its business strategies to maintain stable cash flow and continue its long-term development strategy.
More about Best Food Holding Co. Ltd.
Best Food Holding Co. Ltd. operates in the food and beverage industry, focusing on restaurant operations and investments in food-related businesses. The company is known for its franchise business and aims to enhance its operational efficiency and corporate value through strategic investments.
YTD Price Performance: 7.37%
Average Trading Volume: 54,102
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.61B
Learn more about 1488 stock on TipRanks’ Stock Analysis page.