Zhitong Financial APP News, Source Universe Education (01082) announced its annual results for the year ended June 30, 2023, with income of about HK $118 million, an increase of about 30.61% over the same period last year. The loss attributable to the owners of the company was about HK $28.54 million, down 13.23% from a year earlier. A loss of HK $0.05 per share.
According to the announcement, the loss was mainly due to a significant decrease in the fair value of financial assets at fair value at profit or loss of about HK $13.98 million, mainly due to impairment losses on listed securities and private investments caused by bearish sentiment in Hong Kong and global stock markets; marketing expenses increased to about HK $3.8 million; financial costs increased to about HK $2.1 million; and impairment losses on trade and other receivables totaled about HK $7.93 million.