The lower net profit is also said to be due to an increase in finance costs mainly due to the rising weighted average effective interest rate in the 1HFY2023.
Willas-Array has guided that it expects to record a consolidated net profit of between HK$10.5 million ($1.9 million) and HK$17.5 million for the 1HFY2023 ended Sept 30, compared to a consolidated net profit of around HK$43.5 million for the 1HFY2022.
The expected decrease is said to be mainly attributable to an exchange loss of approximately HK$32.0 million arising from the depreciation of the RMB in the 1HFY2023 compared to the lack of significant exchange difference in the same period the year before.
