Orange Sky Golden Harvest announced its interim results, with a profit attributable to equity holders of HKD 137 million, turning from a loss to a profit year-on-year
ORANGE SKY G H announced its mid-term results for 2025, with a profit attributable to equity holders of HKD 137 million, turning a profit compared to a loss in the same period last year. Revenue from continuing operations was approximately HKD 363 million, a decrease of 2% year-on-year. The decline in revenue was mainly due to a lack of blockbuster films being released, resulting in a decrease in attendance. The reasons for turning a profit include non-recurring income from the termination of cinema leases, tax credits from the sale of properties in Singapore, and a reduction in operating expenses
According to the Zhitong Finance APP, ORANGE SKY G H (01132) announced its interim results for 2025, with revenue from continuing operations of approximately HKD 363 million, a year-on-year decrease of 2%; profit attributable to equity holders of HKD 137 million, turning from loss to profit; earnings per share of HKD 0.0488.
The announcement stated that the decrease in revenue was due to a lack of blockbuster films released during the period, resulting in a decrease in attendance.
The turnaround to profit was mainly due to (i) the group terminating several cinema leases, which resulted in a reversal of cost provisions and non-recurring income of HKD 19.1 million and HKD 85.8 million, respectively; (ii) the sale of a property in Singapore, which generated a tax credit of HKD 32.6 million from the reversal of deferred tax liabilities; (iii) an impairment loss of non-financial assets of HKD 313.3 million for the six months ended June 30, 2024, while there was no such impairment in the first half of 2025; (iv) the group obtained a net non-recurring income of HKD 294.3 million from the sale of an equity interest in a joint venture in the first half of 2024, while there was no such income in the first half of 2025; and (v) the group's operating expenses in the first half of 2025 decreased due to cost-cutting and short-term rental support
