VICON HOLDINGS (03878) issues profit warning, expected annual net profit not to exceed approximately HK$4.9 million, a decrease of approximately 40.9% year-on-year.

VICON HOLDINGS (03878) announced that the group expects to achieve a net profit of approximately HK$4.9 million for the current year ending March 31, 2025, compared to a net profit of approximately HK$8.3 million for the previous year ending March 31, 2024, representing a decrease of approximately 40.9%. The board believes that the expected decrease in profit is mainly due to the following factors: 1. In the previous year, the group completed several projects with relatively high contract amounts; 2. In the current year, intense competition in the industry has affected contract prices for new projects, resulting in lower profit margins; and 3. Projects that have recently started in the current year are in the initial stages, contributing less to the group's earnings.