Willas-array (00854.HK) announced on November 8 that the board of directors expected a comprehensive net loss of approximately 95.3 million Hong Kong dollars for the six months ending September 30, 2023, and the group is likely to record a comprehensive net loss of approximately 62.1 million Hong Kong dollars in the first half of the 2025 fiscal year.
The expected decrease in comprehensive net loss in the first half of the 2025 fiscal year is mainly due to: (i) Exchange losses due to RMB depreciation against the Hong Kong dollar of approximately 2.7 million Hong Kong dollars in the first half of the 2025 fiscal year, while there was a significant exchange difference of about 15.4 million Hong Kong dollars in the first half of the 2024 fiscal year; (ii) A reduction in financing costs of approximately 13.9 million Hong Kong dollars, mainly due to lower bank borrowing levels in the first half of the 2025 fiscal year compared to the first half of the 2024 fiscal year; (iii) A net reversal of impairment allowances for certain trade receivables of approximately 6.4 million Hong Kong dollars in the first half of the 2025 fiscal year, while the net impairment loss amount was 8.4 million Hong Kong dollars in the first half of the 2024 fiscal year; and (iv) A decrease in employee costs of approximately 13.9 million Hong Kong dollars in the first half of the 2025 fiscal year, as the Group actively reviewed and streamlined its cost structure, aiming to achieve better capital efficiency in its operations.
