Crown Holdings (08606) announced its 2023 results, with revenue of approximately HK$309 million, an increase of 4.9% over the previous year;...
According to the Zhitong Finance App, Crown Holdings (08606) announced its 2023 results, with earnings of about HK$309 million, up 4.9% year on year; loss due to company owners was HK$14.088 million, a year-on-year decrease of 79%; loss per share was 1.03 HK cents.
According to the announcement, the decrease in net loss was mainly due to a reduction in intangible asset impairment losses of about HK$41.9 million; a reduction in expected credit loss provision of about HK$4 million; an increase in gross profit of about HK$8.9 million, mainly due to better overall cost control in fiscal year 2023; a decrease in intangible asset amortization of HK$3.2 million; but this was partly offset by a decrease in other income and income of about HK$3.3 million and an increase in operating expenses of about HK$1.6 million due to reduced subsidies from the Hong Kong Government.
