MECOM Power & Construction Ltd. (HK:1183) has released an update.
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MECOM Power and Construction Ltd. has issued a profit warning, expecting a significant decrease in profits for the six-month period ending June 2024, with anticipated earnings of MOP10.4 million to MOP12.8 million compared to MOP38.2 million in the previous year. The downturn is attributed to reduced revenue from construction projects and a fall in average rebar prices impacting their steel structures business. Investors are advised to exercise caution and anticipate the company’s detailed interim results by the end of August 2024.
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