Guanzhong Real Estate (00193) is pleased to see profit attributable to the company owner not less than HK$4 million for the year turn a year-on-year loss into a profit

According to Zhitong Finance App News, Guanzhong Real Estate (00193) announced that the group is expected to obtain a profit attributable to the company owner of not less than HK$4 million for the year ending July 31, 2024, and a loss of HK$30 million for the same period last year.

According to the announcement, the conversion of loss to profit was mainly due to increased revenue from the Group's hotel business and property sales; and the profit attributable to a joint venture company exceeded HK$18 million, compared with a loss due of HK$1 million in the previous fiscal year.