LH Group (HKG:1978) expects to book up to HK$30 million in attributable loss for the first half of the year, versus a profit of HK$47.6 million a year earlier, a Wednesday filing with the Hong Kong exchange said.
The restaurant operator attributed the anticipated swing to loss to local and global economic conditions impacting consumer behavior and weakening demand during the period and the expenses incurred by the impairment of certain assets of some underperforming stores during the period.
The company's shares were down over 20% at the close of trading on Thursday.
Price (HKD): $0.44, Change: $-0.11, Percent Change: -20.00%
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