Helens International Warns of Lower Net Profit in H1
Helens International (HKG:9869) expects its first-half net profit to drop to between 22 million yuan and 26 million yuan, from 54.8 million yuan a year earlier, according to a Tuesday Singapore Exchange filing.The company also expects its net profit to fall between 12 million yuan to 16 million yuan, compared with 50.3 million yuan last year.Revenue is projected to decline to between 220 million yuan and 260 million yuan, from 291.2 million yuan.The bar operator attributed the weaker performance to fewer self-operated bars, softer sales amid market fluctuations, and a pricing overhaul introduced in April.It said lower prices on alcoholic beverages, coupled with the time needed to clear existing inventory and transition to a new supply chain, also weighed on earnings.
