Star Group (01560) issued an announcement with the company's equity holders for the year ended December 31, 2022...
According to the Zhitong Finance App, Star Group (01560) issued an announcement. Compared with the profit attributable to the company's equity holders of about HK$330 million obtained for the year ended December 31, 2022, the Group is expected to obtain a loss attributable to the company's equity holders of about HK$300 million for the year ended December 31, 2023. The anticipated loss is mainly due to the following reasons: (i) the Group's property sales revenue decreased by about HK$460 million, from about HK$1.62 billion in the previous year to about HK$1.16 billion this year; (ii) impairment losses of properties held for sale and fair value changes in investment properties were approximately HK$24 million and HK$65 million (2022: zero); (iii) an increase in financing costs (after deducting the capitalized amount of qualifying asset costs) of approximately HK$75 million from the previous year to approximately HK$19 million in the previous year Approximately HK$94 million this year .