Prosper Cons (06816.HK) announced on August 19th that the group is expected to incur a pre-tax loss of no less than 60 million Hong Kong dollars in mid-2024, while recording a pre-tax loss of about 43 million Hong Kong dollars in the same period in 2023.
The expansion of the performance loss in mid-2024 is mainly due to (i) a significant drop in revenue by more than 35% as some construction projects in the general construction business sector have reached the end stage and new projects have decreased due to the downturn in the real estate market; (ii) a significant drop in revenue by more than 60% as the maritime engineering business sector did not receive any large-scale projects; and (iii) an increase in financial costs of about 10 million Hong Kong dollars.