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Prosper Cons (06816.HK) recorded a half-year profit of 509 million Hong Kong dollars, a year-on-year decrease of approximately 41.8%.
On August 26th, Prosper Cons (06816.HK) announced that for the six months ended June 30, 2024, the group recorded revenue of 509.0 million Hong Kong dollars, a decrease of 365.4 million Hong Kong dollars or about 41.8% compared to the same period last year, due to (i) a decrease in revenue of 66.4 million Hong Kong dollars or about 61.9% in the maritime engineering division; and (ii) a decrease in revenue of 298.9 million Hong Kong dollars or about 39.0% in the general construction division. The group incurred a post-tax loss of 59.0 million Hong Kong dollars during the period, an increase of 15.4 million Hong Kong dollars from the loss of 43.6 million Hong Kong dollars in the same period last year.
Express News | Prosper Construction Holdings H1 Gross Margin 6.6%
Express News | Prosper Construction Holdings H1 Revenue HKD 509 Million
PROSPER CONS: INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2024
Prosper Construction Warns of Wider Loss in H1
Prosper Cons (06816.HK) issues a profit warning: It is expected to incur a tax-free loss of no less than 60 million Hong Kong dollars in the midterm.
On August 19th, Glory Times has announced that Prosper Cons (06816.HK) expects to record a pre-tax loss of no less than 60 million Hong Kong dollars in the group's mid-year of 2024, compared to a pre-tax loss of approximately 43 million Hong Kong dollars for the same period in 2023. The widened mid-term performance loss in 2024 is mainly due to (i) a decline in revenue of over 35% in the general construction business sector, as some construction projects have reached their final stages and new projects have been reduced due to the downturn in the real estate market; (ii) a decline in revenue of over 60% in the marine engineering business sector, as no larger projects have been awarded; and (iii) an increase in financial costs of approximately 10 million Hong Kong dollars.
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