BLUE RIVER HLDG issues a profit warning, expecting the annual loss attributable to shareholders to narrow to approximately HKD 175 million year-on-year
BLUE RIVER HLDG issued a profit warning, expecting an annual loss attributable to shareholders of approximately HKD 175 million for the year ending March 31, 2025, a decrease from HKD 265 million in 2024. The main reasons for the reduction in losses include: a decrease in net losses from joint ventures, reduced administrative expenses, reversal of impairment losses on receivables from former subsidiaries in liquidation, no gains from the sale of subsidiaries, and no gains from forfeited deposits and earnest money
According to the announcement from Blue River Holdings (00498), the group expects to incur a loss attributable to shareholders of approximately HKD 175 million for the current fiscal year (ending March 31, 2025), compared to a loss attributable to shareholders of approximately HKD 265 million for the same period in 2024.
The expected reduction in losses for the current year is primarily due to the net impact of the following factors: (a) the net loss from the share of associates decreased from approximately HKD 231 million in 2024 to approximately HKD 91 million in the current year; (b) administrative expenses decreased from approximately HKD 107 million in 2024 to approximately HKD 45 million in the current year; (c) there was no reversal of impairment losses on receivables from subsidiaries in liquidation in the current year, whereas in 2024, a reversal of impairment losses of approximately HKD 31 million was recorded; (d) there were no gains from the sale of subsidiaries in the current year, while in 2024, the group recorded gains of approximately HKD 59 million from the sale of certain loss-making subsidiaries engaged in port and logistics businesses; and (e) there were no gains from forfeited deposits and earnest money in the current year, whereas in 2024, gains of approximately HKD 8 million were recorded from forfeited deposits and earnest money
