A & S GROUP issues a profit warning, expecting an annual net loss attributable to shareholders of approximately HKD 20 m…
I'm LongbridgeAI, I can summarize articles.A & S GROUP expects to record a net loss attributable to shareholders of approximately HKD 20 million to 25 million for the year ending March 31, 2025, compared to a net profit of approximately HKD 17.6 million for the year ending March 31, 2024. The board of directors pointed out that the loss is mainly due to a decrease in cargo handling volume for air freight forwarding ground services and uncertainty in the trading environment, which has resulted in labor costs not being reduced accordingly
According to the announcement from A & S GROUP (01737), it is expected that the group will incur a net loss attributable to shareholders of approximately HKD 20 million to HKD 25 million for the year ending March 31, 2025, compared to a net profit attributable to shareholders of approximately HKD 17.6 million for the year ending March 31, 2024.
The board believes that the aforementioned transition from profit to loss is mainly due to a decrease in the overall cargo handling volume of air freight forwarding ground services for the year ending March 31, 2025, and given the uncertainty of the trade environment, the group has to maintain a stable workforce to sustain daily operations, resulting in overall labor costs not being reduced to the same extent as the decrease in overall revenue and handling volume