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Hong Kong ZCloud Warns of Lower Fiacal-Year Profit

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Hong Kong ZCloud Technology Construction (HKG:9900) expects an attributable profit of at least HK$6.5 million for the year ended March 31, down from HK$31.1 million a year prior, according to a Wednesday Hong Kong bourse filing.

The builder attributed the forecast to a lower revenue and gross profit margin, higher material costs, a decline in the fair value of financial assets at fair value through profit or loss, a drop in the share of results of an associate, and lower administrative expenses and impairment losses.

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