Continental Airlines Technology Holdings (00232) surged more than 19% after earnings. As of press release, it rose 19.75% to HK$0.09, with a turnover of HK$2.79 million.
The Zhitong Finance App learned that Continental Airlines Technology Holdings (00232) surged more than 19% after profit. As of press release, it had risen 19.75% to HK$0.09, with a turnover of HK$2.79 million.
According to the news, China Airlines Technology Holdings announced that the Group expects to obtain a profit of not less than HK$150 million after tax for the year ending December 31, 2023 (2022: approximately HK$51 million).
Due to strong demand in the global general aviation market in 2023, sales revenue and corresponding gross profit of the Group's general aviation aircraft piston engine business continued to rise. The sharp year-on-year increase in profit after tax for the year ended December 31, 2023 was mainly due to the company's US subsidiary starting to generate taxable profits in 2023, confirming deferred income tax credits for income tax losses in previous years, and 2022 after-tax profit including depreciation of other intangible assets.