STYLAND HOLD issues a profit warning, expecting the annual loss to narrow to approximately HKD 58.3 million year-on-year
STYLAND HOLD issued a profit warning, expecting a loss of approximately HKD 58.3 million for the fiscal year 2025, a decrease from HKD 76.8 million in the same period of 2024. The reduction in losses is mainly due to an increase in subscription fees and management fee income, but is affected by losses in the fair value of investment properties, an increase in expected credit losses on receivables, and fines
According to the announcement from STYLAND HOLD (00211), the group expects to incur a loss of approximately HKD 58.3 million for the fiscal year ending March 31, 2025 (fiscal year 2025), compared to a net loss of approximately HKD 76.8 million for the same period in 2024 (fiscal year 2024).
The decrease in net loss for fiscal year 2025 is mainly due to (i) subscription fee income of approximately HKD 33.8 million for fiscal year 2025; (ii) management fee income of approximately HKD 6.8 million for fiscal year 2025; however, this is offset by the following items: (iii) fair value loss on investment properties increased by approximately HKD 15.5 million compared to the approximately HKD 21.5 million loss for fiscal year 2024; (iv) expected credit losses recognized on loans receivable, accounts receivable, and other receivables increased by approximately HKD 700,000 compared to the approximately HKD 6.3 million for fiscal year 2024; (v) the reversal of expected credit losses recognized on loans receivable, accounts receivable, and other receivables decreased by approximately HKD 2.1 million compared to the approximately HKD 4.7 million for fiscal year 2024; and (vi) fines of approximately HKD 3 million incurred for fiscal year 2025
