eCargo Holdings Limited (ASX: ECG) (ECG, eCargo or the Group) today announced its interim financial results for the six months ended 30 June 2022 (1H FY22).
Results Overview(1):
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Statutory NPAT of HK$24.7 million, including profit from Amblique of HK$23.3 million; Underlying NPAT2 of HK$1.4 million (1H FY21: loss of HK$8.4 million)
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Revenue from continuing operations2 of HK$46.8 million, down 7% despite 3 months of lockdowns in China
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Strong improvement in Gross Margin from continuing operations to 39% (1H21: 31%), due to sustained focus on higher margin products, exclusive distribution agreements with in-demand brands and growth in B2B platform JuJiaXuan (JJX)
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Underlying EBITDA2 of HK$3.6 million, reflective of profitable business model (1H FY21: loss of HK$3.9 million)
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Strong balance sheet following divestment of Amblique provides flexibility to pursue growth opportunities
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