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VICON COMPANIES(03878) announced unaudited interim results for the six months ended 30 September 2022. During the period, the group had revenue of HK$160 million, an increase of 168.53% year on year, losses attributable to shareholders were HK $2.729 million, a decrease of 81.47% year on year; basic loss per share was HK0.57 cents.
According to the announcement, gross profit margin decreased by approximately 4.7% from approximately 8.1% in the prior period to approximately 3.4% in the current period. The decrease in the gross profit margin is mainly due to the combined effects of the following factors: the epidemic of the novel coronavirus has continued to affect the number of construction projects in the market, especially in the private sector, which is the market area of reference point of the Group, resulting in strong competition; and the Group launched some projects during the period New projects with a higher contract value but a lower gross profit margin compared to the same period of 2021 led to an increase in revenues but a decrease in the overall gross profit margin for the period.
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