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GRAND FIELD GP: Annual Report 2024
Express News | Grand Field - FY Revenue HK$236.4 Mln
GRAND FIELD GP: ANNOUNCEMENT OF ANNUAL RESULTSFOR THE YEAR ENDED 31 DECEMBER 2024
Grand Field Expects Wider Loss in 2024
GRAND FIELD GP (00115.HK) expects an annual loss of approximately 0.25 billion to 0.26 billion Hong Kong dollars.
On March 19, GLONG ACCOUNTS reported that GRAND FIELD GP (00115.HK) announced that, compared to a net loss of approximately HKD 47 million last year, the group expects to record a loss attributable to shareholders of about HKD 250 million to HKD 260 million for the year ending December 31, 2024. The increase in loss is mainly due to (i) a decrease in revenue from the group's general trading business, resulting in a revenue decrease of approximately 10.6%; (ii) the sale of several properties with lower gross margins during the year, leading to a decline in gross margin; (iii) one-time fair value losses on investment properties and impairment losses on properties held for sale recognized by the group during the year.
Express News | Grand Field Group - Increase in Loss Due to Decrease in Revenue and Gross Profit Margin in FY, Others
