Zhitong Financial App News, Advanced Development (01667) released interim results for the six months ended September 30, 2022, the group achieved a profit of HK $68.638 million, an increase of 3.2% over the same period last year, and a loss attributable to shareholders of HK $18.525 million, a year-on-year reduction of 48.76%. A basic loss of HK1.93 cents per share.

According to the announcement, the gross profit during the group period was about HK $5.8 million. The profit was mainly due to a significant reduction in costs from about HK $66.2 million up to the same period in 2021 to about HK $62.9 million during the cut-off period. The decrease is mainly due to the resumption of a number of projects with unexpected delays in completion time and the relaxation of COVID-19-related public health measures to improve cost control.