EFT Solutions announces positive profit alert for the year of FY2020

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HONG KONG, June 11, 2021 /PRNewswire/ — EFT Solutions Holdings Limited ("EFT Solutions", Stock Code: 8062), a leading electronic fund transfer at point-of-sale ("EFT-POS") solution provider in Hong Kong, is pleased to announce that, the Group is expected to record an increase in the unaudited profit and total comprehensive income attributable to the Shareholders by approximately HK$20.8 million or 495.2% to approximately HK$25.0 million for the year ended 31 March 2021 as compared to approximately HK$4.2 million for the year ended 31 March 2020. It was mainly attributable to the combined effect of (i) the increase in other income due to the gain on one off disposal of associate and receipt of government subsidies under the Anti-Epidemic Fund; (ii) the decrease in finance cost due to absence of interest expenses on promissory notes for the year ended 31 March 2021; and (iii) the decrease in other losses and administrative expenses as some items of expenses were no longer incurred or were considerably reduced during the year ended 31 March 2021 such as the loss on disposal of subsidiaries and legal and professional fee for disposal of subsidiaries for the year ended 31 March 2020 respectively.

About EFT Solutions Holdings Limited

EFT Solutions Holdings Limited (Stock Code: 8062) has been committed to providing a full range of electronic payment solutions, supporting software and peripheral devices. It aims at providing the most suitable electronic payment solution for different customers, as well as providing add-value function for EFT-POS terminal, and coordinating terminal installation and maintenance service. Its EFT-POS terminal service covers major chain stores and department stores in Hong Kong.