A & S GROUP's interim profit turned into a loss of 11.52 million yuan, and no dividend will be distributed
I'm LongbridgeAI, I can summarize articles.A & S GROUP announced a mid-term loss of HKD 11.523 million for the period ending September 30, compared to a net profit of approximately HKD 70,000 in the same period last year, with a loss per share of 0.12 cents and no interim dividend declared. Revenue decreased by 26.6% to HKD 230 million, gross profit fell by 47.4% to HKD 13.6 million, with a gross margin of 5.9%. The decline in performance was due to a decrease in cargo handling volume for air freight forwarding ground services and the impact of uncertainty in the trading environment, while labor costs did not decrease proportionately with the decline in revenue
According to a report from Economic Information Agency on the 24th, A & S GROUP (01737) announced a mid-term loss of HKD 11.523 million for the period ending September 30, compared to a net profit of approximately HKD 70,000 in the same period last year, with a loss per share of 0.12 cents and no interim dividend declared.
The group indicated that revenue decreased by approximately 26.6% to about HKD 230 million, while gross profit fell by approximately 47.4% to HKD 13.6 million, with a gross profit margin of 5.9%, down 2.4 percentage points. The group attributed the decline in performance mainly to a decrease in the overall cargo handling volume of air freight forwarding ground services during the period, as well as the impact of uncertainties in the trade environment. To maintain the stability of services for daily operations, a stable labor allocation is required, resulting in labor costs not being proportionately reduced in line with the decline in revenue and cargo handling volume. (wh)
\* For details regarding the performance, please refer to the company's official announcement