Ares Asia Limited Reports Increased Annual Loss

Ares Asia Limited (HK:0645) has released an update.

Ares Asia Limited has reported a loss for the fiscal year ended March 31, 2024, with the total comprehensive loss for the year attributed to owners at $1,265,000, a slight increase from the previous year’s $829,000. Revenue rose to $70,382,000 from $52,594,000, but costs remained high, leading to a gross profit of only $331,000. The basic and diluted loss per share has increased to 0.25 cents from the previous year’s 0.16 cents.

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