Country Garden Services Faces Sharp Profit Drop

Country Garden Services Holdings Co (HK:6098) has released an update.

Country Garden Services Holdings Co reported a slight increase in revenue by 1.5% for the first half of 2024, but faced a significant drop in net profit by 37.9% and a sharp decline in cash flow from operations, which fell by 87.7%. The profit attributable to the company’s owners also decreased by 38.7%, despite an expansion in revenue-bearing gross floor area in its property management services.

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