EASY SMART GP (02442) issues profit warning, expecting a decrease in mid-term net profit and comprehensive income to 2 million Hong Kong dollars.

EASY SMART GP (02442) announced that it expects the total profit and comprehensive income for the six months ending on December 31, 2024 to decrease from HK$24.7 million in the same period in 2023 to HK$2 million. The announcement stated that the expected decrease in total profit and comprehensive income is mainly due to an increase in service costs (including subcontractor expenses and construction material costs) of approximately HK$26.2 million during this period; several changes in multiple projects worth around HK$20 million that have not been finalized with clients during this period; and a decrease in profit margin for new bidding projects of the group during this period.