CCT Fortis Holdings Faces Increased Losses in 2024

CCT Fortis Holdings Limited (HK:0138) has released an update.

CCT Fortis Holdings Limited reported a net loss of HK$166 million for the first half of 2024, a 67.7% increase from the previous year, due to unrealized fair value losses in their property portfolio and lack of gains in their investment collections. The challenging global economic climate and poor market sentiment in Hong Kong have led the Group to withhold interim dividends to preserve cash. Despite these conditions, the Group continues to engage in its core businesses of property, securities, automotive through the Blackbird Group, and cultural entertainment, with a cautious approach to trading and investment.

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