SLD GROUP released its annual performance, with a profit attributable to shareholders of HKD 1.805 million, turning a loss into a profit year-on-year
SLD GROUP released its annual performance for the year ending December 31, 2024, with revenue of HKD 368 million, a year-on-year increase of 3.34%. Shareholders' profit attributable to the company was HKD 1.805 million, turning a profit from a loss of HKD 18.841 million in the same period last year. Earnings per share were HKD 0.16. The improvement in performance was mainly attributed to a decrease in impairment losses under the credit loss model, an increase in gross profit and other income, effective cost control measures, and reduced financing costs
According to the Zhitong Finance APP, SLD GROUP (02262) released its annual performance for the year ending December 31, 2024, reporting revenue of HKD 368 million, an increase of 3.34% year-on-year; the profit attributable to equity holders of the company was HKD 1.805 million, compared to a loss of HKD 18.841 million in the same period last year; earnings per share were HKD 0.0016.
The group achieved a turnaround from a loss to a profit, moving from a loss of approximately HKD 20 million in the previous year to a net profit after tax of approximately HKD 1.2 million this year. This encouraging result is mainly attributed to a significant reduction in impairment losses on trade receivables and contract assets under the expected credit loss model this year, as the domestic real estate market showed signs of stability, and the group had established sufficient levels of impairment provisions under the expected credit loss model to address the credit risks brought about by the sluggish property market in China in previous years; an increase in gross profit and other income; ongoing cost control measures that reduced selling and administrative expenses; and a decrease in average bank borrowings that lowered financing costs
