Fenbo Holdings Limited, an original equipment manufacturer known for producing electrical hair styling products under the 'Remington' brand, has reported its unaudited financial results for the first half of fiscal year 2024. The company, which began operations in 1993 and is listed on the Nasdaq under the ticker symbol 'FEBO', saw a 14.2% increase in revenues to HK$66.9 million compared to the same period in 2023. Gross profit also rose to HK$14.9 million, or 22.3% of revenues. However, the company experienced a net loss of HK$1.9 million, a decrease from the net income of HK$0.2 million reported in the first half of 2023. The loss per share stood at HK$0.17, compared to an income per share of HK$0.02 in the previous year. Cash and cash equivalents...Show More

Fenbo Holdings Limited, an original equipment manufacturer known for producing electrical hair styling products under the 'Remington' brand, has reported its unaudited financial results for the first half of fiscal year 2024. The company, which began operations in 1993 and is listed on the Nasdaq under the ticker symbol 'FEBO', saw a 14.2% increase in revenues to HK$66.9 million compared to the same period in 2023. Gross profit also rose to HK$14.9 million, or 22.3% of revenues. However, the company experienced a net loss of HK$1.9 million, a decrease from the net income of HK$0.2 million reported in the first half of 2023. The loss per share stood at HK$0.17, compared to an income per share of HK$0.02 in the previous year. Cash and cash equivalents saw a significant decrease of 44.1% to HK$25.9 million as of June 30, 2024. The company attributes the revenue increase to higher sales of flat irons and hair straighteners, while the net loss is attributed to significant increases in general and administrative expenses, despite efforts to reduce costs and enhance efficiency. The company's CEO, Mr. Siu Lun Allan Li, remains confident in the long-term strategy and the ability to generate sustainable returns for stakeholders.