GC CONSTRUCTION Issues Profit Warning, Anticipates Annual Net Loss of No Less Than HK$58 Million

Stock News06-08

GC CONSTRUCTION (01489) has announced a profit alert, indicating the group expects to record a net loss of not less than HK$58 million for the financial year ending March 31, 2026.

This compares to a net loss of approximately HK$53.5 million for the previous financial year ended March 31, 2025.

The anticipated net loss is primarily attributed to a decrease in revenue coupled with an increase in impairment losses on trade receivables and contract assets.

The reduction in revenue is due to a decrease in the number of projects secured during the reporting period, stemming from property price volatility and a notably more cautious market sentiment among property developers.

The increase in impairment losses for trade receivables and contract assets is a result of heightened default risks.

Clients are facing financial pressures, leading to an increased risk of delayed or non-payment.

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