Summary by Moomoo AI
Tai Lok Group Limited issued a positive earnings forecast on May 2, 2024, expecting a profit of approximately HK$330 million to shareholders for the fiscal year ended March 31, 2024, a significant increase from HK$110.4 million in the same period last year. The growth reflects the good performance of the Group's operations in Hong Kong and Mainland China, particularly in challenging operating environments, including fast food, casual dining and institutional catering. The Group has not received government funding for the COVID-19 pandemic. Excluding the impact of last year's pandemic funding, shareholders are expected to make a profit of about 4.7 times last year. The Group's business has recovered significantly in Mainland China, with strong same-store sales growth and a solid foundation in the Greater Bay Area. The annual results announcement is expected in mid-June 2024. The Board of Directors reminds shareholders and potential investors to exercise caution when buying and selling the Company's securities.