ASIA COMM HOLD issued a profit warning, expecting an annual net profit of no less than HKD 18 million, a year-on-year decrease of approximately 31%
ASIA COMM HOLD issued a profit warning, expecting an annual net profit of no less than HKD 18 million for the year ending March 31, 2025, a decrease of approximately 31% year-on-year. The main reasons include an increase in investment property revaluation losses of about HKD 7 million and deferred tax adjustments leading to an increase in tax expenses of about HKD 4 million. Despite these challenges, the group's core business operations remain stable, the trading conditions in major markets are good, and the financial situation is satisfactory
According to the Zhitong Finance APP, ASIA COMM HOLD (00104) announced that the group expects to achieve a net profit of no less than HKD 18 million for the year ending March 31, 2025, a decrease of approximately 31% compared to the net profit of HKD 26 million for the year ending March 31, 2024. The expected decline in net profit is mainly due to: 1. An increase in revaluation losses on investment properties of approximately HKD 7 million, which is attributed to adverse market conditions affecting the valuation of the group's properties; and 2. Deferred tax adjustments leading to an increase in income tax expenses of approximately HKD 4 million. The group received government subsidies of approximately HKD 6 million this year, which mitigated some of the above impacts.
Although the revaluation losses and tax expenses affect the reported profit of the group, they do not reflect the group's underlying trading performance. The group's core business operations remained stable this year, with performance roughly the same as last year. The trading conditions in the company's main markets have remained robust, and the group continues to maintain a satisfactory financial position
