Hypebeast (HK:0150) has released an update.
Hypebeast Limited reports a decline in annual revenue to HK$895.7 million for FY2024, a 6.7% drop from the previous year, alongside a decrease in gross profit margin from 52.6% to 46.2%. Despite the downturn, the company achieved a net profit of HK$22.3 million, a notable recovery from last year’s net loss of HK$5.1 million, attributed to effective cost efficiency measures. Additionally, the Board has proposed a final and special dividend for shareholders for the fiscal year 2024.
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