Pioneer Global Group Limited Issues Profit Warning, Expects Significant Loss Increase for Fiscal Year 2025
Reuters
Jun 18
Pioneer Global Group Limited Issues Profit Warning, Expects Significant Loss Increase for Fiscal Year 2025
Pioneer Global Group Limited has issued a profit warning, signaling an expected consolidated loss for the fiscal year ending 31 March 2025. The loss is anticipated to range between HK$190 million and HK$200 million, a significant increase from the previous year's loss of HK$50 million. This forecast is based on a preliminary review of the company's latest unaudited consolidated management accounts. According to the company's board of directors, the increased loss is primarily attributed to a decrease in the fair value of investment properties held through subsidiaries, an associate, and equity instruments at fair value through profit and loss. The annual results are pending finalization and are expected to be published on 27 June 2025. Shareholders and potential investors have been advised to exercise caution when dealing in the company's securities.
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