Gelonghui June 29?Chevalier International Group (00025.HK) announcementResults for the year ended March 31, 2023Income7.1 billion Hong Kong dollars17.77% less than the same period last yearThe Group recorded a profit of HK $269 million (2022: HK $693 million) for the year ended March 31, 2023.Excluding (I) profits from the pre-sale of Changchun residential properties delivered in September 2021; (ii) changes in the fair value of joint venture investment properties in the United States; and (iii) revaluation of a number of investment properties, the Group's operating profit for the year is not significantly different from that of the previous financial year. The profit attributable to shareholders of the Company for the year ended March 31, 2023 was HK $234 million (2022: HK $645 million), equivalent to HK $0.77 per share (2022: HK $2.13).
For the year ended 31 March 2023, classified income from construction and mechanical engineering decreased by 4% year-on-year, from HK $4.996 billion to HK $4.797 billion. The segment profit before net financial charges decreased slightly by 2 per cent from HK $334 million to HK $327 million. Due to (I) the surge in materials and other operating costs, and the fierce competition in the (ii) industry, the simultaneous appearance of the coronavirus disease outbreak in 2019 has made the overall business environment uncertain. However the adverse impact of the segment's performance was offset by the collection of one-off government subsidies in the reporting year.