CLSA Premium Posts Profit Warning

CLSA Premium Ltd​, a Hong Kong-focused Forex broker, has posted a profit warning for H1 of 2021.

Based on a preliminary review of the unaudited consolidated management accounts of CLSA for the six months ended 30 June 2021, the Board of Directors of CLSA expects the company to record a net loss of approximately HK$30 million, as compared with the unaudited consolidated net loss of approximately HK$21 million in the corresponding period of 2020.

The expected loss was mainly attributable to the combined effects of the following factors:

​• Total income for the six months ended 30 June 2021 has decreased by approximately HK$2.7 million as compared to the corresponding period of 2020;

• Staff cost for the six months ended 30 June 2021 has increased by approximately HK$4.5 million as compared to the corresponding period of 2020;

• Net foreign exchange gain for the six months ended 30 June 2021 has decreased by approximately HK$3.8 million as compared to the corresponding period of 2020; and

• For the period ended 30 June 2020, the approximately HK$7.3 million one-off tax refund had been received from the Inland Revenue of New Zealand for COVID-19 measure which did not recur in 2021.

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As at the date of this announcement, the company is still in the process of finalising its results for the six months ended 30 June 2021. The results are expected to be released in August 2021.