Asiasec Properties Anticipates Mid-Year Net Loss

Asiasec Properties Limited (HK:0271) has released an update.

Asiasec Properties Limited has issued a profit warning, expecting a net loss of HK$15 to HK$20 million for the six months ending June 30, 2024, a stark contrast to the net profit of HK$15 million in the corresponding period last year. The anticipated loss is mainly due to a fair value loss on investment properties and increased finance costs related to new borrowing. Investors are cautioned to exercise care when trading shares, as the interim results have yet to be finalized and may still be adjusted.

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