Zitong Financial App News, China New Consumer Group (08275) issued an announcement that the Group expects to make a profit attributable to the owners of the company of HK $1 million to about HK $2 million in the three months ended June 30, compared with a loss of HK $14.8 million for the same period in 2022.
According to the announcement, the performance for the three months ended June 30, 2023 turned into a profit, mainly due to an increase in rental income from machinery, an increase in gross profit margin due to a higher gross profit margin for newly granted construction projects and machinery leases, and a decrease in legal and professional fees and marketing expenses, resulting in a reduction in administrative expenses.