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Asiasec Properties Limited ( (HK:0271) ) has provided an announcement.
Asiasec Properties Limited has issued a profit warning, indicating an expected net loss between HK$70 million and HK$80 million for the fiscal year 2024, contrasting with a net profit of approximately HK$265 million in 2023. This downturn is attributed to a fair value loss on investment properties and increased finance costs due to additional borrowing in late 2023. The final annual results are pending, and stakeholders are advised to exercise caution.
More about Asiasec Properties Limited
Asiasec Properties Limited is a company incorporated in Hong Kong, operating in the real estate industry. The company, along with its subsidiaries, focuses on investment properties and related financial activities.
YTD Price Performance: -12.50%
Average Trading Volume: 86,083
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$173.7M
For detailed information about 0271 stock, go to TipRanks’ Stock Analysis page.