Star Group (01560) announced its 2023 annual results, with revenue of HK$1,244 billion, a year-on-year decrease of 26...
According to the Zhitong Finance App, Star Group (01560) announced full-year results for 2023, with revenue of HK$1,244 million, a year-on-year decrease of 26.82%; losses attributable to shareholders were HK$295 million, while profit of HK$330 million was achieved in the same period in 2022; loss per share was 45.92 HK cents.
According to reports, the loss was mainly due to a decrease in revenue from sales of completed projects under the Group's Property Development Division from about HK$1.619 billion in 2022 to about HK$1,158 million in 2023; after deducting HK$23.6 million (2022: none) of properties for sale and losses of changes in fair value of investment properties of approximately HK$65.4 million (2022: income from changes in fair value of HK$9.7 million); and financing costs (after deducting the capitalized amount of qualifying asset costs) of approximately HK$19.8 million in 2022 HKD is approximately HK$94 million until 2023.