Asia Standard Hotel Group Limited (HK:0292) has released an update.
Asia Standard Hotel Group Limited reported a mixed financial performance for the year ended March 31st, 2024, with hotel operations profit soaring by 362% despite a 4% drop in overall revenue and a significant 956% increase in losses attributable to shareholders. The company’s total assets decreased by 15%, with net assets taking a steep 58% dive. Additionally, the Group provided supplementary information showing a slight decrease in revalued total and net assets, indicating a challenging year for the hospitality industry player.
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