Wing Lee Dev (SEHK: 09639) has released its financial results for the fiscal year ending March 31, 2026. The company reported revenue of approximately HK$620 million, representing a decrease of 13.4% compared to the previous year.

Net profit for the period was HK$18.424 million, marking a significant decline of 66.8% year-on-year. Earnings per share stood at HK1.8 cents.

Reasons for the Profit Drop

According to the company's announcement, the substantial reduction in net profit was primarily attributed to two key factors. Firstly, there was a decrease in gross profit margin driven by increased material costs, labor expenses, and logistics costs associated with new projects. Secondly, the company incurred higher preliminary costs related to the development of its new energy business, which also impacted the overall profitability.