Willas-Array issues a profit warning, expecting to turn a loss into a profit of approximately HKD 15 million to 25 million in the first half of the year compared to the same period last year
WILLAS-ARRAY expects to achieve a consolidated net profit of approximately HKD 15 million to 25 million in the first half of 2025, a significant improvement compared to the net loss of HKD 78.6 million in mid-2024. The board pointed out that the reasons for the improvement in financial performance include an increase in gross profit margin, reversal of impairment on trade receivables, and reversal of inventory provisions
According to the Zhitong Finance APP, Willas-Array (00854) announced that the group expects to achieve a consolidated net profit of approximately HKD 15 million to 25 million in the first half of 2025, while the consolidated net loss for the mid-2024 period is approximately HKD 78.6 million.
The board believes that the group's financial performance during this period has significantly improved mainly due to the following factors: (i) the gross profit margin during this period has improved overall compared to the mid-2024 fiscal year; (ii) certain trade receivables of the group experienced a reversal of impairment losses during this period, while there were impairment losses in the mid-2024 fiscal year; and (iii) a net reversal of inventory provisions was obtained during this period, while provisions for slow-moving inventory were made in the mid-2024 fiscal year
