Every Glory United, one of the three new listings in the first half of this year, has guided that it is expecting to report a significant improvement in profit before tax for its 1HFY2023 ended June, as compared to the same period a year ago.
Based on the preliminary review of the group’s unaudited consolidated financial results for 1H2023, the expected improvement in PBT is mainly attributable to an increased number of on-going projects and higher-margin projects undertaken in 1HFY2023 as compared to 1HFY2022.
The group is still in the process of finalising its unaudited consolidated financial results for 1HFY2023 and will provide further details of the Group’s performance when it releases the financial results on or before Aug 14.
Shares in Ever Glory last traded at 47 cents, up some 27% since its listing earlier in May.
