Central Development Holdings Foresees Higher Losses

Central Development Holdings Limited (HK:0475) has released an update.

Central Development Holdings Limited warns of an anticipated net loss for the fiscal year ended March 2024, estimated to be between HK$31.0 million to HK$34.4 million, a significant increase from the previous year’s HK$11.9 million loss. The rise in losses is largely due to non-cash fair value declines in derivative financial instruments and investment properties, contrasting with the prior year’s gains. Despite the increased loss, the company assures stable financial positions and adequate cash resources for ongoing operations.

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