Net profit for FY2020/21 expected to increase over 40% YoY
(Hong Kong – 8 June 2021) The leading cybersecurity company in Hong Kong, Edvance International Holdings Limited (“Edvance International” or the “Company”, together with the Company’s subsidiaries, collectively the “Group”) (SEHK stock code: 01410.HK), is pleased to announce the positive profit alert for the year ended 31 March 2021 (“FY2020/21”).
Based on the preliminary assessment of the unaudited consolidated management accounts of the Group for FY2020/21 and currently available financial information, the Group is expected to record an increase in net profit after taxation attributable to owners of the Company of over at least 40% as compared to the same period in FY2019/20. The increase in net profit was primarily driven by the considerable gross profit resulting from the rising revenue and gross profit margin of the Group’s cybersecurity products and services businesses.
The Group managed to record steady growth in core cybersecurity products and services business amidst the challenging environment. In addition, the Group has made serval landmark achievements in the development of new business in fintech field. This proves the Group’s diversification strategy has begun to take shape.