Global slowdown to affect Homeritz performance

PETALING JAYA: Homeritz Corp Bhd’s growth outlook is expected to remain soft due to the elevated interest rates and a potential economic slowdown in the North America (NA) and European Union (EU) regions.

Hong Leong Investment Bank (HLIB) Research said the home furniture manufacturer’s core profit after tax and minority interest (Patami) for the second quarter of financial year 2023 (2Q23) of RM5.3mil, declined by 45.4% year-on-year (y-o-y), bringing the sum for the first half of FY23 to RM11.3mil, down by 34.1% y-o-y.