APE Macau issues profit warning amid 74.6% revenue decline in H1
The supplier has estimated that revenue from the first six months of 2021 will amount to HK$3.0m (£279,156/€326,385), a sharp decline from HK$11.8m (£1.0m/€1.2m) in the same period of 2020.
APE also projected that technical and repair services revenue would drop by 79.9%, revenue from the company’s business units would decline by 79.6%, and revenue from sales of equipmentwould decrease by 40.7% year-on-year in H1.
The warning revealed that the company’s loss before income tax may come to HK$9.4m (£874,688/€1.0m), 67.5% less than the loss of HK$29.0m (£2.6m/€3.1m) recorded in the previous H1 results.
APE’s board concluded that the impact of the novel coronavirus (Covid-19) pandemic and the lack of impairment loss of finance lease receivables – which offset otherwise poor 2020 figures – affected the results.
The supplier’s full H1 results are expected to be released on or before 13 August 2021.