PAX Global Technology (HKG:0327) expects 30% to 40% lower net profit for 2024, compared with HK$1.17 billion logged for the last year, a Tuesday Hong Kong bourse filing said.

The payment terminals manufacturer attributed the expected decrease to a drop in revenue from North and South America, one-off share-based payment expenses, and a lack of tax incentives during the reporting period which was present during the last year.