ITC Properties Expects Significant Loss Amid Market Challenges

ITC Properties Group Limited (HK:0199) has released an update.

ITC Properties Group Limited has issued a profit warning, forecasting a net loss of at least HK$500 million for the six months ending September 2024. This anticipated loss is primarily due to the disposal of its stake in a Canadian hotel joint venture, coupled with declining property values amid global market uncertainties. Investors are advised to approach the company’s shares with caution.

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