SOMERLEY CAP issued a profit warning, expecting an annual after-tax loss of approximately HKD 13.8 million
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SOMERLEY CAP expects an annual after-tax loss of approximately HKD 13.8 million for the year ending March 31, 2025, a significant increase from the HKD 3.6 million loss in 2024. The loss is primarily due to unfavorable conditions in the Hong Kong corporate financing market, resulting in a revenue decrease of HKD 15.8 million, partially offset by cost optimization plans. Despite the loss, the group's working capital remains robust, with cash and cash equivalents of approximately HKD 51.6 million and no bank borrowings. A pre-tax loss of approximately HKD 11.7 million is expected for the mid-2024 period
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