CROSSTEC Foresees Drastic Loss Reduction

CROSSTEC Group Holdings Ltd. (HK:3893) has released an update.

CROSSTEC Group Holdings Limited anticipates a significant reduction in its consolidated net loss for the fiscal year ending June 30, 2024, with expected losses between HK$11.8 million and HK$13.1 million, a marked improvement from the previous year’s HK$53.6 million loss. This positive shift is primarily due to a series of beneficial developments including a transition from gross loss to profit, decreased impairment losses, a gain from early lease termination, and reduced administrative expenses. The final financial details are pending release by September 2024 following an audit and review.

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