Grand Slam Group (03390) issued an announcement, compared to before the Group's tax deduction for the year ended December 31, 2022...
Zhitong Finance App News, Slam Group (03390) issued an announcement. Compared with the Group's profit before tax of HK$50.4 million for the year ended December 31, 2022, the Group's profit before tax is expected to increase significantly by no less than 520% for the year ended December 31, 2023. The Group's revenue for FY2023 is expected to increase slightly by approximately 1% (FY2022: HK$1,186.2 billion) and its gross margin for FY2023 is expected to increase by no less than 4.0 percentage points (FY2022:22%). The results were mainly due to the overall increase in earnings and gross profit and the proceeds from the sale of 51% of the subsidiary's interests at the time.
In terms of operating business, the directors attributed the group's good performance in the 2023 fiscal year to the full resumption of normal passenger customs clearance between mainland China and Hong Kong in early 2023 and the relaxation of restrictions on the epidemic, bringing in more tourists participating in the “Free Travel Program”, thereby increasing the Group's revenue from the Hong Kong and Macau markets; optimizing the product portfolio to increase the Group's gross profit.