Kingdom Holdings Expects to Swing to Loss in 2024

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Kingdom Holdings Expects to Swing to Loss in 2024

MT Newswires Live02-06

Kingdom Holdings (HKG:0528) expects to record a loss for 2024 against a net profit of 162.8 million yuan logged for 2023, a Thursday bourse filing said.

The Saudi investment company attributed the expected swing to an expected inventory impairment provision of 200 million yuan resulting from the surge in flax production and the volatility in the prices of the resulting products during the reporting year.

Price (HKD): $1.17, Change: $-0.030, Percent Change: -2.50%

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