Glonghui, Feb. 27 | Extraordinary Leadership (00933.HK) announced that in the fiscal year 2023, the Group expects to record a loss attributable to the company's equity holders of no more than HK$180 million. For the year ended December 31, 2022, due to the completion of the acquisition of Viva Qile Limited, which holds a majority stake in C&JClark (No1) Limited, in July 2022, a non-recurring bargaining acquisition revenue of HK$956 million was generated. Excluding the impact of this one-time income, the adjusted loss due to the company's equity holders for FY2022 was approximately HK$106 million.

The adjusted losses attributable to the company's equity holders increased, mainly due to: i) Clark Group's one-time restructuring expenses in FY2023, which reduced some positions to streamline business and improve profitability; and ii) higher impairment and inventory provisions in FY2023. This is due to severe challenges in the retail market since the second half of 2023, particularly in the UK and US markets, where the retail market has faced serious challenges.