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Art Group Anticipates Return to Profit in Fiscal H1
ART GROUP HOLD (00565.HK) expects to turn a loss into a profit for the mid-term.
On February 25, Gelonghui reported that ART GROUP HOLD (00565.HK) announced that the group expects to record a profit of no more than approximately 27 million Hong Kong dollars for the six months ending December 31, 2024, compared to a net loss of approximately 38 million Hong Kong dollars in the same period last year. The turnaround from loss to profit is mainly due to (i) a one-time gain of approximately 303 million Hong Kong dollars from the termination of leases and a reversal of deferred tax liabilities related to investment properties of about 15 million Hong Kong dollars, offset by a loss of about 276 million Hong Kong dollars from the cancellation of investment properties; and (ii) a gain of approximately 11 million Hong Kong dollars from a bargain purchase of a subsidiary.
Express News | Art Group - Expected Result Due to Gain on Bargain Purchase of Unit of HK$11 Mln, Others
Express News | Art Group Sees Profit of Not More Than HK$27 Mln for Six Months
ART GROUP HOLD: POSITIVE PROFIT ALERT
ART GROUP HOLD: NOTICE OF BOARD MEETING
Some Confidence Is Lacking In Art Group Holdings Limited (HKG:565) As Shares Slide 47%
