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Reliance Glo HL (00723) released its annual performance results, with the shareholder's share of loss being 4.453 million Hong Kong dollars, reversing from profit to loss year-on-year.
Reliance Glo HL (00723) has released its annual results for the year ending March 31, 2024, with revenue of HKD 306 million...
Reliance Glo HL (00723.HK) saw a decrease of 40% in revenue to HKD 305.6 million for the fiscal year 2024.
On June 27th, Globalland's announcement showed that Reliance Glo Hl (00723.HK) recorded a 40% drop in revenue to HKD 305.6 million in the 2024 fiscal year, and the company's owners accounted for a loss of HKD 4.453 million (surplus of HKD 280,000 in 2023), mainly due to the challenging operating environment the group is facing. The Board of Directors does not recommend the payment of final dividends for the year ending March 31, 2024 (none in 2023). The group recorded losses mainly because (i) the wood supply chain operation ("wood supply chain operation") of the group recorded losses, mainly due to its declining revenue and margins.
RELIANCE GLO HL: FINAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 MARCH 2024
Reliance Global Holdings Flags Loss in Fiscal 2024
Reliance Global Holdings (HKG:0723) expects a maximum loss attributable to owners of HK$4.6 million for the year ended March 31 against a profit of HK$300,000 in the previous fiscal year, a Monday fil
Reliance Glo Hl (00723.HK) issues profit warning: expected annual profit loss.
On June 24th, Gelon Hui reported that Reliance Glo HL (00723.HK) is expected to incur a loss not exceeding 4.6 million Hong Kong dollars for the owner of the company in the 2024 financial year, relative to a profit of about 0.3 million Hong Kong dollars recorded in the previous year. The Group is expected to record a net loss of no more than 10 million Hong Kong dollars as a whole, relative to a net loss of about 5.7 million Hong Kong dollars recorded in the 2023 financial year, of which a loss of no more than 5.4 million Hong Kong dollars (2023 financial year: 6 million Hong Kong dollars) is attributable to non-controlling interests. The main reason for the group's loss to profit turning to loss is (i) the operation of the group's timber supply chain.
Express News | Reliance Global - Expected Result Due to Loss Recorded by Group's Timber Supply Chain Operation, Among Others
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