Sitoy Group Holdings Limited (00166) announced its interim results for the six months ended June 30, 2024. During this period, the Group...
According to the announcement, the Group achieved a profit of HKD 4.518 billion for the period, a decrease of 72.79% compared to the same period last year. Shareholders' net loss was HKD 24.9 million, compared to a net profit of HKD 57.9 million in the same period last year, resulting in a loss per share of 0.28 HK cents.
During the period, upstream oil and gas product revenues contributed HKD 0.164 billion, a decrease compared to HKD 0.326 billion in 2023. This was due to fluctuations in global energy prices and early cessation of natural gas production due to wildfire season in Canada.
The remaining revenue of HKD 4.354 billion (2023: HKD 16.276 billion) came from the physical sales of precious metals in the Group's general and commodity refining and trading business. The decline in precious metals sales was caused by the rise in gold commodity prices and high demand in the Middle East.