China Tang Shang (00674) announced financial results for the year ended March 31, 2023. The group achieved revenue of HK$651 million, an increase of 153.33% over the previous year; profit attributable to company owners was HK$303.66 million, up 278.58% year on year; and basic profit of HK1.097 cents per share.
According to the announcement, the sharp increase in profit was mainly due to the implementation of various cost control and cost saving measures; and confirmation of income from this year's property development business.