According to the Zhitong Finance App, Timekeeper (02033) announced the interim results for the six months ended December 31, 2023. The group achieved revenue of HK$432 million, a year-on-year decrease of 7.24%; profit attributable to the company owners was HK$11.482 million, a loss of HK$44.9 million in the same period last year; and a profit of HK0.6 cents per share.
According to the announcement, the reversal of loss into profit was mainly due to a decrease in net exchange losses of about HK$45.6 million in the first half of fiscal year 2023 to about HK$2.3 million in the first half of fiscal year 2024, and a net return of about HK$6.2 million for obsolete inventory recognized as sales costs in the first half of fiscal year 2024, compared with a net provision of approximately HK$4.7 million for obsolete inventory in the first half of fiscal year 2023.