Magnus Concordia Reports 24% Drop in Revenue, 27% Reduction in Net Loss, and 28% Decrease in Loss Per Share for Fiscal Year Ending March 2025
Reuters
Jun 30
Magnus Concordia Reports 24% Drop in Revenue, 27% Reduction in Net Loss, and 28% Decrease in Loss Per Share for Fiscal Year Ending March 2025
Magnus Concordia Group Limited has announced its consolidated financial results for the year ended 31 March 2025. The Group reported a revenue decline of 24%, with revenues falling to HK$206 million compared to HK$271 million in the previous year. Gross profit also decreased by 24%, amounting to HK$38 million, down from HK$50 million a year earlier. The loss attributable to owners of the Company improved, narrowing by 27% to HK$85 million from HK$117 million in the prior year. The Group's net asset value per share decreased by 50%, standing at HK$0.01 at the end of the reporting period, compared to HK$0.02 as of 31 March 2024. No specific outlook or future guidance was provided in the announcement.
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