BYTE META (08645) announces annual performance. Equity holders' share of loss amounts to HK$28.857 million, turning from profit to loss year-on-year.

BYTE META (08645) released its annual performance for the fiscal year ended June 30, 2024, with revenue of approximately HK$107 million, a decrease of 18.5% year-on-year; the company's equity attributable to owners recorded a loss of HK$28.857 million, compared to a profit of HK$20.15 million in the same period last year. Loss per share was 4.61 HK cents. The announcement stated that the shift from profit to loss was mainly due to a decrease in revenue and gross profit margin, mainly as a result of the suspension of the e-commerce business paid membership program and changes in revenue mix; and an increase in administrative expenses, mainly due to an increase in staff costs (excluding directors' remuneration) and professional fees.