Gemdale Properties & Investment (HK:0535) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Gemdale Properties & Investment Corporation Limited has reported a significant decline in its financial performance for the first half of 2024, with a 487% drop in profit attributable to owners compared to the same period in 2023. The loss, mainly due to impairment losses on property inventories and receivables from joint ventures, has resulted in a revenue increase of 41% being overshadowed by much larger profitability challenges. The company’s total assets and net assets also decreased by 6% and 12% respectively.
For further insights into HK:0535 stock, check out TipRanks’ Stock Analysis page.