On November 27, WANG ON GROUP (01222.HK) announced that for the six months ended September 30, 2024, revenue increased by approximately 8.3% to around 1.23 billion Hong Kong dollars. The increase in revenue was mainly due to an increase in property sales. During the period, the attributable profit to equity holders of the parent company was approximately 85.8 million Hong Kong dollars, compared to approximately 0.111 billion Hong Kong dollars for the six months ended September 30, 2023. Earnings per share were 0.61 Hong Kong cents.
This was mainly due to (including) the following compared to the same period in 2023: (i) a decrease in share of profits of associates; (ii) a decrease in gains on disposal of properties, plants, and equipment projects; (iii) an increase in sales and distribution expenses; and (iv) a decrease in interest income from financial assets, partially offset by (a) a decrease in impairment losses on properties, plants, and equipment projects and (b) an increase in the recognition of tax credits for the period.
