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 ( (HK:0199) ) has shared an update.
ITC Properties Group Limited has issued a profit warning, indicating an expected net loss of not less than HK$750 million for the year ending 31 March 2025, compared to a loss of approximately HK$644.9 million in the previous year. The increased loss is attributed to significant disposals of properties in Hong Kong and the UK, resulting in a gross loss of at least HK$250 million, and the disposal of equity interests in a Canadian hotel and joint ventures, leading to a loss of at least HK$320 million. However, the company anticipates a gain of not less than HK$200 million from compensation related to a land resumption agreement in Sanya City, China.
More about ITC Properties Group Limited
ITC Properties Group Limited is a company incorporated in Bermuda with a focus on property development and investment. The company operates primarily in Hong Kong, the United Kingdom, and Canada, engaging in the development and management of real estate properties.
Average Trading Volume: 292,211
Technical Sentiment Signal: Sell
Current Market Cap: HK$207.7M
Find detailed analytics on 0199 stock on TipRanks’ Stock Analysis page.