Understanding the Market | ART GROUP HOLD rose nearly 4% after earnings, with interim profit attributable to shareholders of HKD 26.587 million, turning a profit compared to the same period last year

ART GROUP HOLD rose nearly 4% after the earnings report, as of the time of writing, up 3.97%, at HKD 1.31, with a trading volume of HKD 5.0013 million. On the news front, on February 28, ART GROUP HOLD released its interim results for the six months ending December 31, 2024, with revenue of HKD 89.296 million, an increase of 27% year-on-year; profit attributable to shareholders of HKD 26.587 million, compared to a loss of HKD 38.29 million in the same period last year, turning a profit year-on-year; basic earnings per share of HKD 0.099. The announcement stated that the significant increase in profit during the interim period was mainly due to a one-time gain from the termination of leases of approximately HKD 303 million and the reversal of deferred tax liabilities related to investment properties of approximately HKD 15.741 million, offset by a loss of approximately HKD 276 million from the cancellation of investment properties; and a gain of approximately HKD 10.576 million from the bargain purchase of a Chinese subsidiary