Gifted Builders Group (08455) announced its annual financial results for the year ended March 31, 2024, with revenue of approximately HKD 102 million, a decrease of approximately 8.3% year-on-year; gross profit of approximately HKD 21 million, a year-on-year increase of approximately 9.58%; the company's owner's loss was approximately HKD 12.091 million, a year-on-year reduction of 32.48%; and a basic loss per share of 1.51 Hong Kong cents.

The announcement stated that the reduction in losses was mainly due to the recognition of life insurance investment income of approximately HKD 100,000 for the year ended March 31, 2024 (loss of approximately HKD 1.3 million in 2023); and impairment losses on property, plant and equipment and right-of-use assets decreased from approximately HKD 4.2 million for the year ended March 31, 2023, to HKD 600,000 for the year ended March 31, 2024.