Sanli Environmental's profit hit by rising expenses, falls 32.8% YoY

With net profit contraction, the company proposed a lower EPS of $0.0109.

Sanli Environmental reported a 32.8% YoY lower net profit attributable to company owners of $2.92m in FY24.

In its financial statement, the company attributed its lower net profit to higher administrative expenses.

The company's administrative expenses rose $1.4m or 18.0% YoY to $9.2m from $7.8m in FY23, stemming from higher staff-related costs, including staff salaries, property tax, and legal and professional fees associated with new business diversification initiatives.

With a contraction in net profit, the company reported an earnings per share of $0.0109, lower than the $0.0162 record in FY23.

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