Hongkong & Shanghai Hotels (HK:0045) has released an update.
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The Hongkong and Shanghai Hotels, Limited anticipates a significant loss of HK$450 million for the first half of 2024, contrasting with a profit in the same period the previous year. Key reasons for the downturn include a 22% drop in EBITDA, a 40% increase in depreciation, and a significant rise in financing charges alongside property revaluation losses. Shareholders and potential investors are cautioned to be prudent when dealing with the company’s securities ahead of the detailed interim results announcement on August 7, 2024.
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