Gelonghui, Feb. 20 | Timekeeper (02033.HK) announced that according to the company's currently available information and preliminary results of the Group's unaudited comprehensive results for the six months ended 31 December 2023 (“First Half of Fiscal Year 2024”), the Group expects to record a profit attributable to company owners of not less than HK$11 million, while the six months ended 31 December 2022 (“First Half of Fiscal Year 2023") represents a loss attributable to the owners of the company of approximately HK$44.9 million.
The Board considers that these changes were mainly due to (i) prudent management of the Group's foreign currency deposits, which reduced net exchange losses from about HK$45.8 million in the first half of fiscal year 2023 to approximately HK$2.3 million in the first half of fiscal year 2024; and (ii) strengthened control over the Group's inventory levels, which resulted in a net refund of about HK$6.2 million in the first half of fiscal year 2024, compared with a net provision of approximately HK$4.7 million for the first half of fiscal year 2023.