PAX Global announces profit alert
PAX Global Technology Limited (“PAX”, HKSE stock code: 00327.HK), one of the world’s leading providers of electronic payment terminal solutions and related services, is pleased to announce that based on the preliminary assessment by the Board of the unaudited consolidated management accounts of the Group and the information currently available to the Board, the Group is expected to record an increase of not less than 30% in net profit for the six months ending 30 June 2022 (the “Reporting Period”) as compared to HK$519 million for the six months ended 30 June 2021.
The Board considers that the expected increase in net profit is mainly attributable to the strong revenue growth recorded in the first half of the year, driven by the surging market demand for and thereby the sales volume of our Android smart payment terminals, particularly in the Europe, Middle East and Africa region.
Information contained in this announcement is based on the preliminary review by the Board of the unaudited consolidated management accounts of the Group which has not been reviewed nor audited by the auditor of the Company and the information currently available to the Board which has not been discussed with the auditor of the Company. Further details and the financial results of the Group for the Reporting Period will be disclosed when the Group publishes its interim results which is expected to be released in August 2022.
For more information, please refer to the announcement.