CLASSIFIED GP (08232) Announces Annual Results Ended 31/31/2023...
According to the Zhitong Finance App, CLASSIFIED GP (08232) announced results for the year ended December 31, 2023. The total revenue was approximately HK$36.357 million, a decrease of 2.9% over the previous year. The loss attributable to company owners was HK$15.346 million, a year-on-year decrease of 27.74%.
According to reports, the decrease in losses was mainly due to the closure of the two loss-making restaurants after their respective leasing agreements expired in 2022; a reduction in impairment losses on right-of-use assets; a reduction in the amount of inventory deducted to net realizable value; and the fact that existing restaurants generated more revenue despite a drastic reduction in government subsidies and rent concessions related to COVID-19.