Golden Resources Development International Ltd. Issues Profit Warning, Anticipates HK$14.5 Million Loss for Year Ending March 2025

Reuters
16 Jun
Golden Resources Development International Ltd. Issues Profit Warning, Anticipates HK$14.5 Million Loss for Year Ending March 2025

Golden Resources Development International Ltd. has issued a profit warning, indicating an anticipated loss attributable to shareholders of approximately HK$14.5 million for the fiscal year ending 31 March 2025. This marks a significant downturn compared to the HK$106.8 million profit recorded the previous year. The expected shift from profit to loss is attributed to several factors, including a HK$21.8 million deficit from the revaluation of investment properties, a HK$15.2 million increase in impairment loss on right-of-use assets and equipment, and a rise in overall selling and distribution costs by HK$38.3 million. These factors are partially mitigated by a decrease in tax expenses amounting to HK$22.5 million. The financial data is based on unaudited consolidated management accounts, and the company's final audited results are anticipated to be released in late June 2025. Shareholders and potential investors are advised to exercise caution when dealing with the company's shares.

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