Yucheng Logistics (08489) announced that the group expects to generate approximately HKD 0.42-0.43 billion in revenue for the six months ending June 30, 2024 (first half of 2024), while generating approximately HKD 0.3225 billion in revenue for the first half of 2023. The gross profit for the first half of 2024 is expected to be approximately HKD 10 million-15 million, compared to HKD 17.8 million in the first half of 2023. The group is expected to experience a net loss of approximately HKD 10 million to HKD 15 million for the first half of 2024, compared to a net loss of approximately HKD 6.1 million in the first half of 2023.
Yucheng Logistics (08489) announced that it expects to generate revenue of approximately HKD 0.42 billion to HKD 0.43 billion for the six months ending June 30, 2024 (first half of 2024), compared to revenue of approximately HKD 0.3225 billion for the first half of 2023. Gross profit for the first half of 2024 is expected to be approximately HKD 10 million to HKD 15 million, compared to HKD 17.8 million in the first half of 2023. The group is expected to experience a net loss of approximately HKD 10 million to HKD 15 million for the first half of 2024, compared to a net loss of approximately HKD 6.1 million in the first half of 2023.
The expected increase in revenue is due to the group's efforts to develop new customers for its air transportation services in the first half of 2024. However, due to the challenges of the economic environment, the group was unable to pass on the high costs continuously charged by the airlines to customers during the industry's off-season, resulting in a decrease in expected gross profit and an increase in net loss.