San Miguel HK turned a loss of HKD 20 million last year, with an interest of 5 cents
SAN MIGUEL HK announced its full-year results for the year ending December last year, reporting a loss attributable to shareholders of HKD 20.096 million, with a loss per share of HKD 0.05, and declared a final dividend of HKD 0.05. In 2023, the profit was HKD 85.898 million, with revenue of HKD 711 million, a year-on-year decrease of 4.11%. The company confirmed a one-time non-cash impairment loss of HKD 90 million, with consolidated profit for 2024 expected to be HKD 56.2 million. Despite facing challenges from geopolitical and trade tensions, the company maintains a cautiously optimistic outlook on the economic growth prospects in Hong Kong and South China, and will take measures to address potential risks
SAN MIGUEL HK ( 00236) announced that for the year ended last December, it recorded a loss attributable to shareholders of HKD 20.096 million, with a loss per share of 5 cents, and declared a final dividend of 5 cents. The profit for the year 2023 was HKD 85.898 million.
During the period, revenue was HKD 711 million, a decrease of 4.11% year-on-year.
The company stated that due to a year-on-year decline in industry sales volume, this has impacted the group's business in Hong Kong, leading to a recognition of a one-time non-cash impairment loss of HKD 90 million, and a deferred tax impact of HKD 14.9 million on its non-current assets in 2024. Excluding the impairment loss, the group's consolidated profit for 2024 is HKD 56.2 million, compared to a consolidated profit of HKD 89.6 million in 2023.
The company expressed a cautiously optimistic outlook on the economic growth prospects for Hong Kong and South China. However, it also recognizes that future challenges and uncertainties remain due to geopolitical and trade tensions and their impact on local demand and commodity exports. Nevertheless, the company firmly believes that the measures implemented will help address potential risks, and it will closely monitor market dynamics, adopt corresponding strategies, accelerate sales recovery, effectively control costs, and comprehensively enhance profitability.
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