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Here's Why Shareholders Should Examine CEC International Holdings Limited's (HKG:759) CEO Compensation Package More Closely
CEC INT'L HOLD: 2023/2024 ANNUAL REPORT
CEC International Swings to Loss in Fiscal Year 2024
CEC INT'L HOLD (00759) has released its annual performance, with shareholders' losses totaling 29.812 million HKD, a year-on-year loss from profit.
CEC INT'L HOLD (00759) released its annual performance results ending on April 30, 2024. The group generated a revenue of 1.47 billion Hong Kong dollars, which decreased by 13.16% year-on-year. The company's equity holders suffered a loss of 29.812 million Hong Kong dollars, compared to a profit of 49.565 million Hong Kong dollars in the same period last year. The loss per share was 4.47 Hong Kong cents.
CEC INT'L HOLD (00759.HK) annual earnings of 1.47 billion Hong Kong dollars, a 13.2% decrease year-on-year.
CEC INT'L HOLD (00759.HK) announced on July 24th that the group recorded a comprehensive income of HKD1,469,606,000 in the 2023/24 fiscal year, a decrease of 13.2% from the previous fiscal year. As the COVID-19 pandemic has ended, the group will no longer receive subsidies from the Hong Kong government for the COVID-19 employment protection scheme in the current fiscal year (2023: HKD18,832,000). In addition, the group closed its Singapore subsidiary to save long-term costs in the current fiscal year, incurring a one-off non-recurring restructuring cost of approximately HKD2,875,000, and due to a downward adjustment in the property market in the current fiscal year, the group made an asset impairment provision of approximately HKD2,538,000 for investment properties. Taking into account these factors, the group recorded a net loss attributable to equity holders of approximately HKD29,812,000 in the current fiscal year (2023: profit of HKD49,565,000).
CEC INT'L HOLD: ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 30 APRIL 2024
CEC International Holdings' (HKG:759) Soft Earnings Don't Show The Whole PictureNo Data
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