Global Sweeteners Forecasts Lower Gains in 2024
Global Sweeteners Holdings (HKG:3889) expects a net gain between HK$40.0 million and HK$55.0 million in 2024, lower than HK$271.1 million from 2023, a Friday bourse filing said.
The food company attributed the expected decrease in gain to a decline in its gross profits resulting from a sharper fall in the selling prices of the downstream products compared to the reduction in costs of raw materials during the reporting period.
The company also attributed the expected decrease to the absence of the one-off gain of HK$415.3 million from the disposal of certain subsidiaries in 2023.
Shares of the company closed 1% higher on Friday.
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