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<Alert> CHINA-HK PHOTO (01123.HK) Expects Turnaround to Profit for Full Year, Net Profit Up to HKD9M
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CHINA-HK PHOTO (01123.HK) issued a positive profit alert, expecting to record a net profit of between HKD5 million and HKD9 million for the year ended end-Mar this year, compared with a net loss of approximately HKD2.3 million in the same period last year. The board of directors believes that the turnaround from loss to profit was mainly attributable to an improvement in gross profit driven by changes in product mix despite a slight decline in revenue; as well as savings in operating costs and expenses, primarily due to more favorable lease terms secured upon renewal and lower rental levels for newly opened stores, resulting in reduced rental expenses, together with a decline in staff costs. (sl/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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