holdempokerrules| Gaofeng Group Holdings released interim results Profit attributable to shareholders of HK$4.068 million, a year-on-year decrease of 34.6%

Gaofeng Group Holdings (02863) released interim results for the six months ended March 31, 2024holdempokerrules, revenue 3holdempokerrules.46 billion Hong Kong dollars, a year-on-year decrease of 5.65%; profit attributable to owners of the company was HK$4.068 million, a year-on-year decrease of 34.6%; earnings per share was HK$0.006.

The announcement stated that the Group's gross profit increased by approximately HK$10 million during the period, mainly due to the decrease in labor costs involved in operating such projects after the COVID-19 epidemic and the improvement in profit margins of some projects, due to the increased demand for public sector construction services in the market. Gross profit margin increased to approximately 9.8%(2023: 6.5%) during the period.