LUKS GROUP (VN) announced its 2024 performance, with a profit attributable to the parent company of HKD 19.144 million, turning from a loss to a profit year-on-year
LUKS GROUP (VN) announced its 2024 performance, with revenue of approximately HKD 373 million, a year-on-year decrease of 12.77%; profit attributable to the parent company was HKD 19.144 million, turning from loss to profit year-on-year; earnings per share were HKD 0.038, and a final dividend of HKD 0.02 per share is proposed. Due to ongoing losses, the recoverable amount of cash-generating units in the cement business has significantly decreased, and the group has made impairment provisions for properties, plants, and equipment, with provisions of HKD 36.822 million and HKD 139 million for 2024 and 2023, respectively. Although the provisions have a negative impact on profit and asset value, they do not affect cash flow
According to the Zhitong Finance APP, LUKS GROUP (VN) (00366) announced its 2024 performance, with revenue of approximately HKD 373 million, a year-on-year decrease of 12.77%; the profit attributable to the parent company was HKD 19.144 million, turning from a loss to a profit year-on-year; earnings per share were HKD 0.038, and a final dividend of HKD 0.02 per share is proposed.
According to the assessment by independent evaluators, due to continuous losses over the past few years, the recoverable amount of cash-generating units in the cement business has significantly decreased. Therefore, the group has made impairment provisions for its properties, plants, and equipment, with provisions of HKD 36.822 million and HKD 139 million for the fiscal years 2024 and 2023, respectively. Although the above provisions have a negative impact on the group's profit and asset value, they do not affect the group's cash flow. If these provisions are not taken into account, the overall operating profit of the group over the past two years has been roughly balanced
