kingkey fin int (01468) announced that the group expects to achieve net income for the six months ended September 30, 2024...
Zhixun Finance APP reported that kingkey fin int (01468) announced that the group expects to achieve net income not exceeding about 2.5 million Hong Kong dollars for the six months ended September 30, 2024, while the net income for the same period in 2023 was about 66.5 million Hong Kong dollars.
The announcement stated that the net income for the mid-year period in 2023 was mainly attributable to a one-time fair value adjustment of the contingent consideration related to the acquisition of FGA Holdings Limited and its subsidiaries, amounting to approximately 0.1177 billion Hong Kong dollars. It is important to note that this adjustment did not occur in the mid-year period of 2024 and is unrelated to the group's operating activities. Without this adjustment, the mid-year period of 2023 would have incurred a net loss of approximately 51.2 million Hong Kong dollars. Therefore, the directors believe that the group's performance for the mid-year period of 2024 - as indicated by the positive expected net income - has substantially improved.
