Oriental EH Group (00018) has released its annual results for the year ending March 31, 2024, with revenue of HKD 629 million, a decrease of 7.11% year-on-year. Shareholders' net profit was HKD 75.096 million, a decrease of 54.91% year-on-year. Basic earnings per share were 3.13 Hong Kong cents. It is proposed to distribute a final dividend of 3 Hong Kong cents per share and a special dividend of 3 Hong Kong cents per share.
According to the announcement, the decline in net profit was mainly due to the decline in publishing and advertising revenue in the media business, which led to a decline in overall performance. In addition, the government did not provide support subsidies during the reporting period, while the group received government support subsidies of about HKD 22.277 million in the same period last year, and a total loss of expected credit losses of about HKD 19.472 million due to the expected credit losses for the sale of Australian properties and the settlement of disputes with Australian hotel operators regarding receivable operating license fees in the same period last year.