Ulferts International reports net loss amidst challenging market

Ulferts International (HKEX:1711) reported a net loss of HK$41.0 million for the year ended March 31, 2025, compared to a HK$25.0 million loss in the previous year. The results reflect a challenging market environment and weakened consumer demand, leading to a drop in total revenue to HK$153.0 million from HK$171.6 million. Gross profit also decreased, landing at HK$88.3 million compared to HK$99.7 million in 2024. Retail revenue contributed HK$145.1 million, representing 94.8% of the group's total. The company attributed the losses partly to aggregate impairment losses of property, plant and equipment, and right-of-use assets, which came in at HK$16.1 million. The board did not recommend a final dividend for the year. As of March 31, 2025, the Group's cash and cash equivalents stood at HK$27.3 million.