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Hong Kong Johnson Warns of Up to 90% Drop in Full-Year Profit

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Hong Kong Johnson (HKG:1955) expects an 85% to 90% decline in attributable profit for the year ended March 31 from HK$16 million a year prior, according to a Friday Hong Kong bourse filing.

The janitorial services provider's revenue is expected to jump between 82% and 87% from HK$1.84 billion in the prior-year period.

The firm attributed the profit forecast to higher costs amid sustained geopolitical tensions and rising oil prices, as well as downward pressure on the gross profit margin of the cleaning services sector due to intense competition.

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