Newton Resources Faces Earnings Decline

Newton Resources Ltd. (HK:1231) has released an update.

Newton Resources Ltd. reports a significant drop in net profit for the six-month period ending June 30, 2024, with net earnings estimated at US$1.4 million, down from US$2.9 million in the same period of the previous year. The decline is primarily due to reduced demand for high-grade iron ores, adversely affecting sales and revenue. Investors are cautioned to exercise prudence when dealing with the company’s shares.

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