PARIS–(BUSINESS WIRE)–AMTD Digital Inc. (“AMTD Digital” or the “Company”) (NYSE: HKD), a comprehensive one-stop digital solutions platform headquartered in France, announced today that it is expected to achieve a significant increase of over 50% in net profit after tax for the year ended 30 April 2023, as compared to the previous year.
As of FY23, AMTD Digital has embarked upon impressive new innovative business approaches resulting in a strong momentum of growth trends and developments after its IPO listing last year, particularly in the media, entertainment and culture side of the business. Recent milestones achieved include the roll-out of AMTD World Media and Entertainment Group (“AMTD WME”) and the acquisition of The Art Newspaper (subject to customary closing conditions), both jointly achieved with AMTD Group and AMTD IDEA Group (NYSE: AMTD; SGX: HKB). The continuous expansion of L’Officiel Inc. SAS into more countries across Asia on top of the currently comprehensive footprint in China, Korea, Singapore, Malaysia, Vietnam, Thailand, Philippines to name a few countries, have played a critical role behind this impressive growth.
In addition to the above, it is worth noting the injection into AMTD Digital earlier this year by AMTD IDEA Group of its entire equity interest in AMTD Assets Group. The asset injection, at a fair market value of approximately US$500 million and a net deal consideration of US$268 million, after deducting the outstanding liabilities associated with the properties, has equipped AMTD Digital with a global portfolio of premium whole building properties, which includes Dao by Dorsett AMTD Singapore as well as properties in Hong Kong and Canada. AMTD Digital has built strategies to expand and continuously build a network of AMTD hotels and food and beverage businesses to include a global roll-out plan of L’Officiel Coffee.
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