BRIEF: Global Chinese Business Club posts big profit growth
Investment holding company Global Chinese Business Club (1757.HK) said on Tuesday it expects to report a major profit increase for its latest fiscal year through March, due in part to a low base in the previous year and also improving margins.
The company said it earned a profit of between HK$8 million ($1.02 million) and HK$12 million in the 12 months through March, compared with HK$1.1 million in the previous fiscal year. It attributed the growth partly to a HK$432 million increase in construction revenue, which had a higher profit margin, in the latest fiscal year.
Global Chinese Business Club’s stock was down 0.8% in Wednesday afternoon trading in Hong Kong. The stock is has risen nearly sixfold since the start of the year.
By Doug Young
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