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Revenues Not Telling The Story For Time Watch Investments Limited (HKG:2033) After Shares Rise 31%
Time Watch Investments' (HKG:2033) Earnings Seem To Be Promising
TIME WATCH: Interim Report 2024
Timekeeper (02033.HK): Achieved net profit of HK$11.482 million in the first half of FY2024
On February 28, GLONGHUI (02033.HK) announced that for the six months ended 31 December 2023 (“first half of fiscal year 2024”), revenue was approximately HK$432 million, a year-on-year decrease of 7.2%; profit attributable to company owners was approximately HK$11.482 million, while the first half of fiscal year 2023 was a loss attributable to company owners of about HK$44.9 million, with a basic profit of HK0.6 per share. The announcement stated that the decline in the Group's revenue was mainly due to the decline in revenue from sales of famous brand watches other than Tianwang Watch (“Other Brands (China) Business”).
Timekeeper (02033) announced interim results. Profit attributable to shareholders of HK$11.482 million turned a year-on-year loss into profit
According to the Zhitong Finance App, Timekeeper (02033) announced the interim results for the six months ended December 31, 2023. The group achieved revenue of HK$432 million, a year-on-year decrease of 7.24%; profit attributable to the company owners was HK$11.482 million, a loss of HK$44.9 million in the same period last year; and a profit of HK0.6 cents per share. According to the announcement, the main reason for turning a loss into a profit was the net exchange loss decreased by about HK$43.6 million from about HK$45.8 million in the first half of fiscal year 2023 to about HK$2.3 million in the first half of fiscal year 2024, and confirmed as sales costs in the first half of fiscal year 2024
TIME WATCH: INTERIM RESULTS ANNOUNCEMENTFOR THE SIX MONTHS ENDED 31 DECEMBER 2023
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