ITC Properties Group Limited (HK:0199) 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.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.
For further insights into HK:0199 stock, check out TipRanks’ Stock Analysis page.