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STAR GROUP ASIA: INTERIM REPORT 2024
Star Group Asia Reports Escalating Half-Year Loss
star group co (01560.HK) first-half year revenue of 0.518 billion Hong Kong dollars, a year-on-year increase of 223.11%
Star Group (01560.HK) announced its interim results on August 29th. The group's income was approximately 0.518 billion Hong Kong dollars, a year-on-year increase of 223.11%. The increase in income was mainly due to the completion of sales projects after the rain, which started selling in the second half of 2023. The loss attributable to owners of the company was approximately 0.219 billion Hong Kong dollars, compared to a loss of approximately 29.7 million Hong Kong dollars in the same period last year. The increase in loss was mainly due to (i) the gross loss of approximately 51.2 million Hong Kong dollars in the first half of 2024 from the sale of property units, compared to a gross profit of approximately 0.9 million Hong Kong dollars in the first half of 2023; (ii) the reduction of for-sale property in the first half of 2024 to 64.
STAR GROUP ASIA: INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2024
Star Group Co (01560.HK) warns of earnings decline: It is expected that the options holders will have a loss of 0.22 billion Hong Kong dollars in the medium term.
Star Group (01560.HK) announced on August 29th that for the six months ending June 30, 2024, compared to the six months ending June 30, 2023, the company's equity holders' share of profit is expected to be approximately HKD 30 million, while the group is expected to record a loss of approximately HKD 0.22 billion for the same period. The announcement stated that the increase in expected loss is mainly due to: (i) a gross loss of approximately HKD 51 million from the sale of property units in this period, compared to a gross profit of approximately HKD 1 million in the same period last year; (ii) an impairment of approximately HKD 65 million for the property held for sale in this period.
Express News | Star Group - Expected Result Due to Increase in Finance Costs, Others
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