ITC Properties Group Issues Profit Warning Amid Increased Losses

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

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