According to the Zhitong Finance App, Xinaid Group (08412) announced its results for the year ended May 31, 2023, with revenue of HK$779.81 million, an increase of 55.2% over the previous year; profit attributable to company owners was HK$3.649 million, with a loss of HK$8.871 million for the same period last year; basic profit of HK$5.20 per share.
During the period, performance changed from loss to profit mainly due to increased customer consumption due to the relaxation of epidemic prevention measures (including but not limited to lifting restrictions on cross-border travel and wearing masks), which led to strong sales in the fourth quarter of the reporting period; and an increase in customer-facing product portfolio due to the opening of a cigar VIP room in Lan Kwai Fong during the reporting period.