HKET HOLDINGS issued a profit warning, expecting an annual loss attributable to shareholders of approximately HKD 36 million, turning from profit to loss year-on-year
HKET HOLDINGS issued a profit warning, expecting to record a loss attributable to shareholders of approximately HKD 36 million for the year ending March 31, 2025, compared to a profit attributable to shareholders of HKD 54 million for the same period in 2024. The reasons for the loss include the inability to replicate the one-time gains from property sales in the previous year, as well as a decline in revenue due to impairment losses and a sluggish economic environment
According to the announcement from HKET HOLDINGS (00423), the group expects to incur a loss attributable to the company's shareholders of approximately HKD 36 million for the full year ending March 31, 2025, compared to a profit attributable to the company's shareholders of HKD 54 million for the year ending March 31, 2024.
The change is mainly attributed to the following comprehensive impacts: a one-time gain from the sale of properties of HKD 122 million in the previous fiscal year ending March 31, 2024, which was partially offset by impairment losses of HKD 12 million recognized on certain properties, plants, and equipment, as well as HKD 21 million written off from deferred tax assets, with no such gains recorded in the current fiscal year; impairment losses of approximately HKD 5 million on certain investment properties for the fiscal year ending March 31, 2025; and a decrease in revenue compared to the previous fiscal year due to a sluggish economic environment
