Link Holdings (08237) announced its mid-term performance for 2024, with revenue of 22.0672 million Hong Kong dollars, a year-on-year decrease of 1...
The Link Holdings (08237) announced its mid-term performance for 2024, with revenue of 22.0672 million Hong Kong dollars, a year-on-year decrease of 15.26%; the company's owners' losses amounted to 34.736 million Hong Kong dollars, a year-on-year narrowing of 39.12%; and the loss per share was 0.829 Hong Kong cents.
The announcement stated that the decrease in revenue was mainly due to the temporary renovation of the affiliated building of Link Hotel in Singapore.
The reduction in losses is mainly due to the group's cost control measures in various operational divisions and headquarters, as well as a decrease in administrative expenses during the review period (including a significant reduction in legal and professional fees). However, this was partially offset by a decrease in revenue of approximately 4 million Hong Kong dollars and a decrease in gross profit of approximately 7.1 million Hong Kong dollars due to the temporary renovation of the affiliated building of Link Hotel in Singapore, as well as an increase in financial costs related to interest-bearing bank and other borrowings of approximately 7.3 million Hong Kong dollars.