HKR International Limited provided unaudited consolidated earnings guidance for the year ended 31 March 2024. The Group expects to record a loss attributable to shareholders for the year. It was owing to recording of asset impairment provisions of approximately HKD 370 million for certain properties held for and under development, certain completed properties and property, plant and equipment, attributable fair value loss (net of taxes)
of approximately HKD 260 million for Group's investment properties and absence of disposal gain of any property project (note: a gain on disposal of joint venture project in Thailand of HKD 368 million was recorded in the year ended 31 March 2023 ("FY2023")). In FY2024, affected by the continuous interest rate hikes as well as depreciation of Renminbi, Thai Baht and Japanese Yen, the Group also expects to record higher exchanges losses and finance costs. Notwithstanding this, the Group estimates that it will record a 35% increase in underlying profit as compared to that for the FY2023. The Group is still in the process of preparing and finalising the Group's audited results for the FY2024. The information contained in this announcement is based on the Board's preliminary assessment of the unaudited management accounts of the Group and the information available for the time being. Such information has not been reviewed by the Audit Committee or independent auditors of the Company and may be subject to change. Further details of the Group's financial results and performance for the FY2024 will be disclosed in the annual results announcement of the
Company scheduled to be published on 19 June 2024.