Vertical International Holdings Limited (08375) said the group is expected to record a significant decrease in net profit for the year ended 31 December 2018 of approximately 60% as compared to that for the year ended 31 December 2017 (excluding the listing expenses).
The expected decrease is mainly attributable to (1) weakening demand in the consumer market under the uncertain global business environment as a result of the trade war and tariff dispute; (2) expansion of warehouse space as to streamline the logistic functions of the group resulting in an increase in warehouse rental expenses; (3) increase in operating expenses as compared to the year ended 31 December 2017 due to the increase in selling expenses and professional and compliance services fee subsequent to the listing of the company on the Stock Exchange.
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