PROSPER FUTURE issued a profit warning, expecting a net loss after tax of approximately HKD 48 million to HKD 54 million in 2024
PROSPER FUTURE expects a post-tax net loss of approximately HKD 48 million to 54 million in 2024, an increase from the loss of about HKD 34.5 million in 2023. The loss is mainly attributed to a fair value loss of approximately HKD 9.7 million on investment properties, as well as rising labor costs due to the expansion of lending and credit card businesses
According to the Zhitong Finance APP, PROSPER FUTURE (01259) announced that the company estimates that for the year ending December 31, 2024, the group's after-tax net loss will be approximately HKD 48 million to HKD 54 million, while the group recorded an after-tax net loss of approximately HKD 34.5 million for the year ending December 31, 2023.
The announcement stated that the increase in losses is mainly due to a fair value loss of approximately HKD 9.7 million on investment properties, compared to a fair value loss of approximately HKD 1.6 million for the year ending December 31, 2023; and the company's expansion of its lending and credit card business, which has led to increased labor costs due to the need to hire more staff, enhance credit card system development, and improve customer service
