Glonghui, June 21, 丨 Hong Kong Food Investment (00060.HK) announced that the company expects equity owners to record a loss of HK$18,000,000 to HK$22,000,000 for the year ending March 31, 2024, compared with a profit of approximately HK$1,000,000 last year.
The expected performance loss is mainly due to (i) the combined effects of (i) the decline in revenue from the catering business and an increase in operating losses due to the economic downturn and increased cross-border consumption in the north; and (ii) the combined effects of adjustments to the fair value of financial assets.