IWS issued a profit warning, expecting the annual loss attributable to shareholders to increase by approximately 650%
IWS issued a profit warning, expecting the annual loss attributable to shareholders for the year ending March 31, 2025, to increase by approximately 650%, significantly higher than the loss of about HKD 64.7 million for the year 2024. The main reasons for the increase in loss include impairment provisions for equity in a joint venture invested in hazardous waste treatment projects in mainland China, as well as impairment provisions for the group's properties, plants, and equipment located in Tseung Kwan O
According to the announcement from IWS (00923), it is expected that the loss attributable to shareholders for the year ending March 31, 2025 (2025 fiscal year) will increase by approximately 650%, compared to a loss of about HKD 64.7 million recorded for the year ending March 31, 2024. In addition to the impairment provision made for the carrying value of our equity in a joint venture involved in hazardous waste treatment projects in mainland China, the increase in net loss is mainly due to (including) the impairment provision made for the properties, plants, equipment, and right-of-use assets located at the Group's headquarters in Tseung Kwan O, as disclosed in the announcement regarding a potentially very significant disposal
