Yinglan Group (01162) announced the results for the six months ended September 30, 2023. The group achieved a profit of 27...
According to the Zhitong Finance App, Yinglan Group (01162) announced its results for the six months ended September 30, 2023. The group achieved profit of HK$27.258 million, a year-on-year decrease of 38.53%; the company owners accounted for a loss of HK$7.042 million, an increase of 398.73% over the previous year; and a loss of 1.17 HK cents per share.
According to the announcement, the decline in earnings is mainly due to the fact that some large-scale projects are close to completion during the current financial period, and construction of newly granted large-scale projects has not yet started. At the same time, the COVID-19 pandemic has increased pressure on the labor and resource supply chain, leading to significant increases in labor and material costs. These various factors, combined with intense competition during the bidding process, resulted in a lower gross margin for the six months ending September 30, 2023 compared to the corresponding period in 2022.