Zhitong Financial APP News, extraordinary Leader (00933) announced interim results for 2023, with a revenue of about HK $5.444 billion, an increase of 620.9% over the same period last year; a gross profit of about HK $2.491 billion, an increase of 890.7% over the same period last year; and a profit attributable to the company's equity holders of about HK $132 million, compared with a loss of HK $31.71 million in the same period last year.
The announcement said that the consolidated income and gross profit were much higher than those in the same period last year, mainly due to the completion of the acquisition of footwear brand Clarks in early July 2022, and its income and performance have been integrated into the group since then.
The turnround is mainly due to the fact that according to the facts and circumstances after the listing of the Stock Exchange of Hong Kong Limited from GEM to the main board, the Group has no longer adopted the provision on delayed reporting contained in Hong Kong Accounting Standards 28, which is allowed to account for the performance of the associate according to the accounts of the associate on different settlement dates (but the gap is not more than three months). Since July 2022, the earnings and performance of the Clark Group have been integrated into the Group; and losses have been reduced for several brands under the Group's multi-brand footwear business segment.