ITC Properties Group Limited (HK:0199) has released an update.
ITC Properties Group Limited reported a significant net loss of HK$645 million for the year ended March 31, 2024, which is a substantial increase from the previous year’s loss of HK$147 million. The loss was attributed to impairment losses on property interests and investments, as well as decreased fair value in Hong Kong’s challenging commercial property market. Despite a 22.4% increase in revenue, the company has decided against paying any dividends due to its financial situation.
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