Fulum announces positive profit alert and Expects to turn around from loss by recording up to 22 million in profit of FY2023
HONG KONG SAR - Media OutReach - 19 June 2023 - Fulum Group Holdings Limited (HKEx stock code: 1443, the "Group" or "Fulum") is pleased to announced that, the Group is expected to record a net profit of approximately ranging from HK$19 million to HK$22 million for the year ended 31 March 2023 (the "FY2023"), as compared to a loss of approximately HK$49 million in the previous year, turning around form loss to profit.
The Group stated that there has been an improvement in the Group's results for FY2023 with the Government's subsidies through the "2022 Employment Support Scheme" as well as the gradual recovery of economic activities as the local and global pandemic began to subside. Further into the second half of year, the full border reopening between Hong Kong and mainland China in February 2023 as well as the lifting of Hong Kong's mask mandate in March 2023 have also brought a positive effect to our business conditions.
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The issuer is solely responsible for the content of this announcement.
About Fulum Group Holdings Limited
Fulum Group Holdings Limited, a well-known diversified catering group in Hong Kong, has more than 30 years of experience in Chinese or Cantonese catering management. Through the "Fulum(富臨)" main brand, the "Sportful Garden (陶源)" main brand and the "Concept Line (概念線)" main line, the Group provides all kinds of catering services and create a full-time catering eco-system with an aim to meet the catering needs of diners.
As at 30 September 2022, the Group operated a total of 96 restaurants in Hong Kong, including 16 restaurants under the "Fulum (富臨)" main brand, 7 restaurants under the "Sportful Garden (陶源)" main brand, 73 restaurants under the "Concept Line (概念線)" main line as well as 7 supermarkets and 3 restaurants in the Mainland China. In the recent years, the Group has launched diversified restaurants including Korean light meal restaurants, Korean barbecue restaurants, Japanese hot pot, stylish Korean and Japanese cafe and food courts. The Group established a number of food court brands to expand its revenue and market share with new business model for the recent years.
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