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Willas-Array sees earnings drop 70% in 1HFY2023 due to foreign exchange loss

Bryan Wu
Bryan Wu • 2 min read
Willas-Array sees earnings drop 70% in 1HFY2023 due to foreign exchange loss
Excluding the foreign exchange difference, the Willas-Array says its earnings would have been HK$45.6 million in 1HFY2023, surpassing that of 1HFY2022.
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Willas-Array has reported earnings of HK$12.8 million ($2.2 million) for the 1HFY2023 ended September, down 70.5% compared to its earnings of HK$43.5 million for the same period last year.

Earnings per share have also dropped 71.1% y-o-y to 14.78 HK cents from 51.09 HK cents in 1HFY2022.

Between 1HFY2023 and 1HFY2022, revenue and cost of sales remained stagnant, recording only slight dips of 0.2% and 0.1% to HK$1.8 billion and HK$1.6 billion respectively in the period just ended.

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