Luk Hing Entertainment Group Holdings Ltd. has reported its annual results for the year ended 31 December 2024. The company recorded a 28.8% increase in total revenue, rising from approximately HK$95.7 million in 2023 to approximately HK$123.3 million in 2024. This growth was mainly driven by the successful revival of their annual music festival event, which contributed an additional HK$41.9 million in revenue. However, this increase was partially offset by a HK$14.3 million decline in restaurant sales, attributed to the trend of Hong Kong residents spending more in mainland China. The cost of inventories sold, primarily covering beverages, food, and other products, decreased by 5.2%, dropping from approximately HK$26.9 million in 2023 to approximately HK$25.5 million in 2024. The company's management continues to implement prudent treasury policies to maintain strong liquidity and leverage future growth opportunities. The report did not provide specific figures for net income or earnings per share.
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