Zhitong Financial App News, CHI HO DEV (08423) announced that the Group expects to make a consolidated net profit of about HK $500000 to HK $1.5 million for the three months ended June 30, 2023, and about HK $3.9 million for the three months ended June 30, 2022.
The expected decrease in consolidated net profit for the three months ended 30 June 2023 is mainly due to a decrease in total income and gross profit due to a decrease in revenue from renovation and maintenance works, alteration and addition works and decoration works; and an increase in administrative expenses, mainly driven by increased staff costs.