CROSSTEC (03893) releases interim results, shareholders' net loss of HK$13.052 million, turning from profit to loss on a year-on-year basis.

CROSSTEC (03893) announced its interim results for the six months ended December 31, 2024. The group achieved a revenue of HK$45.713 million, representing a year-on-year increase of 69.41%. The company's attributable loss was HK$13.052 million, compared to a profit of HK$6.722 million in the same period last year. The loss per share was 8.39 HK cents. The group's comprehensive profit for the six months ended December 31, 2023 turned into a comprehensive loss for the current period mainly due to the following one-off items in the previous period: a reversal of contract costs of approximately HK$6.3 million, a reversal of expected losses on loss-making contracts of approximately HK$6.4 million, and a gain on early termination of leases of approximately HK$4.8 million. These items are non-cash and non-recurring in nature, and did not occur in the current period.