CGN MINING (01164) Forecasts Annual Profit Increase

Stock News
03/20

CGN MINING (01164) announced that the Group expects its profit before tax from continuing operations for the year ending December 31, 2025, to decrease by approximately HK$200 million to HK$250 million compared to the same period in 2024. Concurrently, the Group anticipates its overall profit for the year ending December 31, 2025, to increase by about HK$90 million to HK$140 million year-on-year. According to the announcement, the decline in profit before tax from continuing operations is attributed to a drop in natural uranium prices in 2025, which led to reduced contributions from the Group's share of results in a joint venture and an associate compared to 2024. The projected rise in the Group's overall profit for the 2025 fiscal year is primarily due to an improved gross profit margin resulting from better natural uranium trading spreads, the absence of non-recurring operating loss items in 2025 leading to an overall year-on-year performance improvement, and a decrease in income tax expenses compared to the same period in 2024.

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