ITC Properties Faces Challenges Amid Global Slowdown

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

ITC Properties Group Limited reported a significant net loss of HK$504.3 million for the six months ending September 2024, due to global economic slowdowns and challenges in the real estate market. The company strategically disposed of its interests in Bayshore Ventures JV Ltd., leading to a cash inflow and reduced refinancing risks, despite the loss on the joint venture. The Board chose not to declare an interim dividend as the Group navigates through financial pressures and market uncertainties.

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