STELUX HOLDINGS issues a profit warning, expecting an annual comprehensive loss attributable to shareholders of no less than HKD 100 million, turning from profit to loss year-on-year
STELUX HOLDINGS issued a profit warning, expecting a consolidated loss attributable to shareholders of not less than HKD 100 million for the year ending March 31, 2025, a significant turnaround from a consolidated profit of HKD 473 million in the same period of 2024. The 2024 consolidated profit included gains of HKD 544 million from the sale of subsidiaries and watches; excluding this gain, the net loss for 2024 was HKD 71 million. The loss for 2025 is expected to exceed the adjusted loss for 2024, primarily due to impairment losses on investment properties and a decline in revenue of approximately 20%
According to the Zhitong Finance APP, STELUX HOLDINGS (00084) announced that the group expects that for the year ending March 31, 2025, the company's equity holders will incur a consolidated loss of no less than HKD 100 million, while the consolidated net profit for the year ending March 31, 2024, was HKD 473 million. The consolidated profit for the fiscal year 2024 includes revenue of HKD 544 million from the sale of a subsidiary and a batch of watches. Excluding the sale revenue in 2024, the group's net loss for the fiscal year 2024 was HKD 71 million. It is expected that the consolidated net loss for the fiscal year 2025 will be higher than the adjusted loss for 2024, mainly due to an impairment loss (non-cash) of HKD 24.7 million related to the revaluation of investment properties as of March 31, 2025, and a year-on-year decline of approximately 20% in revenue for the fiscal year 2025
