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SMART GLOBE (01481) expects FY23 loss to narrow

<匯港通訊> SMART GLOBE (01481) announced that the loss after tax of the Group for the year ended 31 December 2023 is expected to reduce to a range of HK$3 million to HK$5 million as compared to an audited loss after tax of HK$16.5 million for the year ended 31 December 2022. The decrease in loss after tax for the FY2023 was mainly attributable to the increase in the Group’s gross profit resulted from the change in sales strategy by focusing on customer orders with higher margin, in particular the profit margin in the second half of 2023 improved significantly as compared with the corresponding period in 2022, which was partially offset by the increase in administrative expenses such as staff cost and other taxes in the People’s Republic of China. (WL)