GP LOGISTICS released its 2024 annual performance, with a net loss of HKD 3.655 million, an increase of 142.9% year-on-year
GP LOGISTICS released its 2024 annual performance, with revenue of HKD 1.058 billion, a year-on-year increase of 28.2%; net loss of HKD 3.655 million, a year-on-year increase of 142.9%. Gross profit decreased by approximately 23.8% to HKD 39.7 million, with the gross profit margin falling to about 3.8%. Due to a significant rise in service costs, the group was unable to pass on the high costs to customers, resulting in a decline in gross profit margin
According to the Zhitong Finance APP, GP LOGISTICS (08489) announced its annual performance for the year ending December 31, 2024, with revenue of HKD 1.058 billion, a year-on-year increase of 28.2%; a net loss of HKD 3.655 million, a year-on-year increase of 142.9%; and a basic loss per share of HKD 0.0122.
In the fiscal year 2024, the group's gross profit decreased by approximately 23.8% to about HKD 39.7 million (fiscal year 2023: about HKD 52.1 million). The decline in gross profit reflects that the increase in revenue was insufficient to offset the significant rise in service costs, primarily due to the current challenging economic environment, which prevented the group from passing on the ongoing high service costs to its customers. As a result, in a difficult market environment, the group's gross profit margin fell to approximately 3.8% in the fiscal year 2024 (fiscal year 2023: approximately 6.3%)
