Hanison Construction Anticipates Major Losses

Hanison Construction Holdings (HK:0896) has released an update.

Hanison Construction Holdings Limited has issued a profit warning, anticipating a substantial net loss between HK$210.0 million and HK$220.0 million for the fiscal year ending March 31, 2024, a significant increase from the previous year’s HK$38.4 million loss. The projected loss is primarily attributed to revaluation loss of investment properties, impairment loss on properties under development for sale, and increased interest expenses due to rising interest rates and a downturn in the property market. Shareholders and potential investors are cautioned to consider these factors carefully when dealing with the company’s shares.

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