CONTINENTAL H (00513) announced its annual performance, with a net loss of HKD 257 million for shareholders, an increase of 161.8% year-on-year.

Continental H (00513) announced its annual performance for the year ending June 30, 2024, with the group achieving a revenue of HK$366 million, a decrease of 20.9% compared to the previous year. The attributable loss to owners of the company was HK$257 million, an increase of 161.8%, with a loss per share of 37.67 HK cents. The announcement stated that the annual loss was mainly attributed to a decrease in revenue and gross profit of approximately HK$95.2 million and HK$109 million respectively, with the significant decrease in gross profit primarily due to the impact of the current property market conditions on developing and pending properties, resulting in a reduction of approximately HK$141 million. Additionally, the loss of approximately HK$87.9 million was confirmed due to changes in the fair value of investment properties, and impairments of goodwill, intangible assets, and rights of use assets amounted to approximately HK$9.8 million. Furthermore, financial costs increased by approximately HK$18.1 million. The basic loss per share was 37.67 HK cents (2023: 14.39 HK cents).