REF Holdings profit nearly halves in 2025 on weaker revenue
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REF Holdings Limited reported a significant decline in financial performance for the year ended December 31, 2025. Revenue fell to HK$92.3 million from HK$106.4 million, with net profit nearly halving to HK$3.0 million. Earnings per share decreased to 1.16 HK cents, indicating pressure on margins despite lower costs. The company showed slight improvements in credit quality but faces challenges in profitability and growth sustainability. Analysts currently rate the stock as a Hold with a price target of HK$0.56.
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