Gelonghui November 17丨Fujikao Industrial (00927.HK) announced that compared with losses attributable to the company's equity holders in the same period last year of about HK$4,200,000, the company expects to record a profit of HK$15,000,000 to HK$19,000,000 attributable to the company's equity holders in mid-2023.
This anticipated improvement in the Group's financial performance in mid-2023 is mainly due to (1) an increase in gross margin due to product portfolio adjustments; and (2) the Group recorded one-time expenses due to the termination of underperforming parts division operations in the same period last year, and the Group did not incur related costs in mid-2023. It was also noted that the anticipated improvement in the Group's financial performance in the interim of 2023 was offset by (a) a decrease in revenue generated by the Group; and (b) a provision for guarantee claims of HK$9,000,000 to HK$11,000,000.