Future Bright Group (00703) announced that based on its unaudited management accounts, the group achieved in the third quarter of 2024...
Wisdom Financial App News, Future Bright Group (00703) announced that based on its unaudited management accounts, the group's share of unaudited surplus for the third quarter of 2024 was approximately 6.8 million Hong Kong dollars, while for the third quarter of 2023, it was approximately 10.4 million Hong Kong dollars. The group also achieved a share of unaudited surplus of approximately 7.3 million Hong Kong dollars for the period ended September 30, 2024 (the current period), compared to approximately 34.7 million Hong Kong dollars for the same period in 2023, a decrease of about 79.0%.
During this period, despite an increase in visitor numbers in China's Macau and Hong Kong, the group's revenue decreased by about 3.1% due to a decrease in average visitor spending. The group's share of unaudited surplus was approximately 7.3 million Hong Kong dollars for this period, mainly attributed to a loss of approximately 1.2 million Hong Kong dollars in the food and dining business; a profit of approximately 6.7 million Hong Kong dollars in the food and souvenir business; and a profit of approximately 5.8 million Hong Kong dollars in the property investment business. The decrease in the group's share of unaudited surplus for this period was mainly due to the decrease in revenue.
During this period, the group did not gain any fair value gains/losses (2023: 0) from the commercial property (main investment property) near the tourist hotspot at St. Dominic's Square No. 2, Arch Square in China's Macau.