GOLDEN RES DEV released its annual performance, with a loss attributable to shareholders of HKD 14.466 million, turning from profit to loss year-on-year
GOLDEN RES DEV announced its annual results for the year ending March 31, 2025, reporting a loss attributable to shareholders of HKD 14.466 million, a shift from profit to loss year-on-year. The group's revenue was HKD 2.079 billion, unchanged from last year. The loss per share was HKD 0.009, and a final dividend of HKD 0.012 per share is proposed. The performance loss was mainly due to increased impairment losses on investment property revaluation, right-of-use assets, and equipment, as well as rising selling and distribution costs
According to the Zhitong Finance APP, GOLDEN RES DEV (00677) announced its annual results for the year ending March 31, 2025. The group achieved revenue of HKD 2.079 billion, unchanged year-on-year; the loss attributable to shareholders was HKD 14.466 million, compared to a profit of HKD 107 million in the same period last year; the loss per share was HKD 0.09, and a final dividend of HKD 0.12 per share is proposed.
The shift from profit to loss was mainly due to the combined effects of the following reasons: a revaluation loss of investment properties of HKD 21.791 million for the current period, compared to a revaluation surplus of HKD 69.363 million for the previous year ending March 31, 2024; an increase in impairment losses on right-of-use assets and equipment of HKD 15.179 million, and an overall increase in selling and distribution costs of HKD 38.252 million; these factors were partially offset by a decrease in tax expenses of HKD 22.525 million compared to the previous year ending March 31, 2024
