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ASIA GROCERY: CLARIFICATION ANNOUNCEMENTNOTICE OF BOARD MEETING
It's Unlikely That The CEO Of Asia Grocery Distribution Limited (HKG:8413) Will See A Huge Pay Rise This Year
Soochow Securities: The food and beverage sector is in a stage of low-to-medium-speed transformation, and the rebound of the sector is waiting for the clearance of the business performance risk of listed companies or the reversal of demand expectations.
The current valuation of the food and beverage sector is relatively low, primarily due to concerns about future cash flow and profit downgrades. Short-term market pessimism has had an impact on the sector, and the sector's rebound is awaiting clarification of listed company performance risks, or a reversal of demand expectations, the latter depending on proactive fiscal and monetary policies at the macro level or verification of seasonal sales at the middle level.
Asia Grocery releases annual performance and gains revenue of HKD 292 million, a year-on-year increase of 2.2%.
Asia Grocery (08413) released its annual performance as of March 31, 2024, with a revenue of HKD 292 million, a YoY growth of 2.2%, and a net income of HKD 1.864 million. In the same period last year, there was a loss of HKD 4.408 million; the basic earnings per share was HKD 0.16. The performance turned a loss into a profit during the period mainly due to increased revenue, increased handling fee income received, reduced bad debt written off, reduced legal and professional fees, and reduced depreciation of properties, factories, and equipment, but partially offset by the increased cost of goods purchased from suppliers, reduced government grants received, increased director remuneration, increased depreciation of right-of-use assets, and increased transportation expenses.
ASIA GROCERY: Annual Report 2024
ASIA GROCERY: ANNUAL RESULTS ANNOUNCEMENTFOR THE YEAR ENDED 31 MARCH 2024
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