According to the Zhitong Finance App, XinAid Group (08412) announced that the Group expects to make a profit of not less than HK$4.5 million for the year ending May 31, 2023, and turn a loss of about HK$7.942 million from a loss of about HK$7.942 million on May 31, 2022 to a profit.
According to the announcement, it is expected to turn a loss into a profit, mainly due to strong sales in the fourth quarter of this year. This is mainly due to (i) the easing of epidemic restrictions and full social recovery, including but not limited to the lifting of cross-border travel restrictions and mask requirements, which led to an increase in customer consumption; and (ii) Lan Kwai Fong Cigar Lounge opened this year to increase the product portfolio offered to customers.