GC Construction Holdings Limited (HK:1489) has released an update.
GC Construction Holdings Limited anticipates a decline in net profit for the year ended 31 March 2024, with expected earnings of no more than HK$21.0 million, a significant drop from the previous year’s HK$49.3 million. The decrease is mainly due to reduced government grants and lower gross profit margins in wet trades works amidst a volatile real estate market. Shareholders and potential investors are advised to exercise caution and await the final annual results due by the end of June 2024 for a complete financial overview.
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