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  • GC CONSTRUCTION (01489.HK) issued a profit warning: It is expected to incur a net loss of not less than 7 million Hong Kong dollars in the mid-term.

GC CONSTRUCTION(01489.HK)盈警：预计中期净亏损不少于700万港元

GC CONSTRUCTION (01489.HK) issued a profit warning: It is expected to incur a net loss of not less than 7 million Hong Kong dollars in the mid-term.

Gelonghui Finance ·  Oct 28 17:16

On October 28, GC CONSTRUCTION (01489.HK) announced that for the six months ending September 30, 2024, the group expects to record a net loss of not less than about 7 million Hong Kong dollars, while the net profit for the six months ending September 30, 2023 was about 16.6 million Hong Kong dollars.

The announcement states that the recorded net loss is mainly due to a decrease in gross margin. The decrease in gross margin is due to (i) unexpected changes in customer work requirements during the reporting period, resulting in an increase in subcontracting costs; and (ii) a decrease in gross margin of new projects due to fluctuations in the real estate market.

The translation is provided by third-party software.


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