COSMOS MACH (00118) announces profit growth, expected annual comprehensive surplus of no less than HK$12 million, turning losses into gains compared to the previous year.
DaTong Machinery (00118) releases announcement, with a comprehensive loss of about 59 million for the year ending on December 31, 2023.
COSMOS MACH (00118) announced that compared to the comprehensive loss of approximately HK$59.515 million for the year ended December 31, 2023, the Group is expected to record a comprehensive surplus of not less than HK$12 million for the year ended December 31, 2024, which has not been audited. The main reason for the turnaround from loss to profit is due to the non-recurring losses from selling the printed circuit board processing business and impairment losses on goodwill of the printed circuit board trading business, amounting to approximately HK$46.151 million and HK$29.1 million respectively for the year ended December 31, 2023. Excluding the above non-recurring items, the performance for the year ended December 31, 2024 is expected to be similar to last year.
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