ORIENTAL E H issued a profit warning, expecting the annual consolidated profit attributable to shareholders to decline to approximately HKD 50 million to 55 million
ORIENTAL E H issued a profit warning, expecting the annual consolidated profit attributable to shareholders for the year ending March 31, 2025, to decline to approximately HKD 50 million to HKD 55 million, a decrease from approximately HKD 75.096 million for the same period in 2024. The main reasons include a decline in media business revenue due to adverse macroeconomic conditions, a decrease in interest income from financing business loans, and an increase in fair value losses on investment properties
According to the announcement from ORIENTAL E H (00018), the board of directors expects that the group will achieve a consolidated profit attributable to the owners of the company ranging from approximately HKD 50 million to HKD 55 million for the year ending March 31, 2025, compared to a consolidated profit attributable to the owners of approximately HKD 75.096 million for the year ending March 31, 2024.
The board believes that the decline in consolidated profit attributable to the owners of the company is mainly due to: unfavorable macroeconomic conditions leading to a decrease in the group's media business revenue; the total interest income from the group's financing business decreased by approximately HKD 19.61 million from approximately HKD 45.453 million for the year ending March 31, 2024, to approximately HKD 25.843 million during the reporting period; and at the end of the reporting period, the net fair value loss of the investment properties held by the group increased by approximately HKD 7.741 million
