ART GROUP HOLD (00565) released its interim results with a net profit attributable to shareholders of HKD 26.587 million, turning losses into profits compared to the same period last year.

ART GROUP HOLD (00565) released its interim results for the six months ended December 31, 2024, with revenue of HK$89.29 million, an increase of 27% compared to the same period last year. Shareholders' profit attributable amounted to HK$26.587 million, compared to a loss of HK$38.29 million in the same period last year, turning from a loss to a profit; Basic earnings per share were HK$0.99. The announcement stated that the significant increase in profit during the interim period was mainly due to a one-time termination fee of approximately HK$303 million, a reversal of deferred tax liabilities related to the derecognition of investment properties of approximately HK$157.41 million, offsetting the loss of approximately HK$276 million from the derecognition of investment properties; and a gain of approximately HK$105.76 million from the bargain purchase of a subsidiary company in China.