CEC INT'L HOLD (00759) released until April 30, 2024...
According to the Zhitong Finance App, CEC INT'L HOLD (00759) announced the results for the year ended April 30, 2024. The group obtained a profit of HK$1.47 billion, a year-on-year decrease of 13.16%; the company's equity holders should have accounted for a loss of HK$29.812 million, and a profit of HK$49.565 million in the same period last year; loss per share.
Due to the end of the COVID-19 pandemic, the Group will no longer receive grants from the Hong Kong Government of China under the COVID-19 “Employment Protection Program” (2023: HK$18.832 million). Furthermore, in order to save long-term costs, the Group closed down the operations of its Singaporean subsidiary during the year, resulting in a one-time non-recurring restructuring fee of approximately HK$2.875 million. Due to downward adjustments in the property market during the year, the Group made an asset impairment provision of approximately HK$2.538 million for investment properties. Combined with the above factors, the Group recorded a loss attributable to equity holders of approximately HK$29.812 million (2023: profit of HK$49.565 million).