E&P Global Holdings Limited ( (HK:1142) ) just unveiled an update.
E&P Global Holdings Limited has issued a profit warning, indicating an expected consolidated loss of at least HK$460 million for the eleven months ending February 28, 2025. This anticipated loss is largely due to an estimated impairment loss of approximately HK$519 million on its exploration and evaluation assets in Russian coal mines, driven by declining coal prices and currency exchange rate volatility. The impairment is non-cash and will not affect the company’s revenue or operating cash flow. The company is in the process of finalizing its unaudited financial results for the year ended March 31, 2025, and shareholders are advised to await the detailed announcement of the annual results by the end of June 2025.
More about E&P Global Holdings Limited
E&P Global Holdings Limited is a company incorporated in the Cayman Islands, primarily engaged in the exploration and evaluation of mining assets, with a focus on coal mining operations in Russia.
Average Trading Volume: 197,477
Technical Sentiment Signal: Buy
Current Market Cap: HK$139.2M
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