DJ AGTech Holdings Limited (08279) issued a positive profit alert, net profit of not less than HKUSD33million is expected in 2023 first quarter
EQS Newswire / 25/04/2023 / 18:45 UTC+8 AGTech Holdings Limited (08279) issued a positive profit alert, net profit of not less than HKUSD33million is expected in 2023 first quarter
AGTech Holdings Limited (08279) (the"Group") announced on April 25 that net profit of not less than HK USD33million for the three months ended March 31, 2023 (the "2023Q1") is expected, as compared with loss of approximately HKUSD10.8 million for the three months ended March 31, 2022 (the "2022Q1").
The expected turnaround from loss to profit is mainly due to the following factors: (1) The Group's earnings in 2023Q1 increased by not less than HK USD130 million mainly as a result of the consolidation of the financial results of Macau Pass Holding Limited and its subsidiaries, and increase of sales of lottery hardware compared to 2022Q1. (2) An operating profit of not less than HK USD12 million in 2023Q1 is expected, compared with an operating loss of approximately HKUSD12.6 million in 2022Q1. (3) It is expected that the Group's net finance income will be increased to not less than HKUSD20 million in 2023Q1, mainly due to increase in average bank balances and market interest rates for 2023Q1, compared with net finance income of approximately HKUSD3.4 million in 2022Q1. File: AGTech Holdings Limited (08279) issued a positive profit alert, net profit of not less than HKUSD33million is expected in 2023 first quarter
25/04/2023 Dissemination of a Financial Press Release, transmitted by EQS News. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com
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(END) Dow Jones Newswires
April 25, 2023 06:45 ET (10:45 GMT)
