LEVER STYLE (01346) announced its performance for 2024, with a net profit attributable to the owners of the parent company of approximately $17.1448 million, representing a year-on-year growth of 9.77%.

LEVER STYLE (01346) announced its performance for the year 2024, with a revenue of approximately $223 million, an increase of about 6.9% compared to the previous year. The profit attributable to the owners of the parent company is around $17.1448 million, showing a growth of 9.77%. Earnings per share are 2.7 cents, with a final dividend of 7 Hong Kong cents per share. According to the announcement, the increase in revenue is mainly attributed to the group's success in winning new customers and achieving deeper penetration and organic growth in multiple product categories with existing customers. The company has successfully expanded its market share with new and existing customers. The improvement in supply chain efficiency and technological integration have supported expansion, leading to competitive pricing and higher sales volume. The increase in net profit is mainly due to the expansion of business with new and existing customers, resulting in a gross profit increase of approximately $3.6 million. Administrative expenses decreased from around $20.1 million in 2023 to approximately $19.4 million in 2024. This reduction is mainly attributed to the successful recruitment and filling of several key positions in 2024, improved recruitment strategies, and increased employee efficiency. The impairment loss on trade receivables increased from around $300,000 in 2023 to approximately $3 million in 2024, primarily due to the parent company of the group's largest customer filing a lawsuit through the United States Bankruptcy Court. Despite the company implementing credit risk control measures to mitigate the impact, trade receivables were still affected. However, the company has offset the impairment loss on trade receivables through new business opportunities with the customer's new owner.