tiprankstipranks
Trending News
More News >

Magnificent Hotel Investments Issues Profit Warning Amid Strong Occupancy

Story Highlights
  • Magnificent Hotel Investments and its affiliates operate in the hospitality industry, focusing on hotel investments.
  • Despite high occupancy and increased revenue, the companies expect a profit drop due to weak property market valuations.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Magnificent Hotel Investments Issues Profit Warning Amid Strong Occupancy

Don’t Miss TipRanks’ Half-Year Sale

An update from Magnificent Hotel Investments Limited ( (HK:0201) ) is now available.

Magnificent Hotel Investments Limited, Shun Ho Property Investments Limited, and Shun Ho Holdings Limited have issued a profit warning for the financial year ending December 2024. Despite achieving over 90% hotel occupancy and increased hotel revenue, the companies expect a significant rise in net profit before revaluation and depreciation due to reduced costs and no extraordinary tax expenses. However, the net profit after revaluation and depreciation is expected to decrease due to a drop in property valuations amid a weak property market.

More about Magnificent Hotel Investments Limited

Magnificent Hotel Investments Limited, along with Shun Ho Property Investments Limited and Shun Ho Holdings Limited, operates in the hospitality industry, focusing on hotel investments and property management. The companies are incorporated in Hong Kong and are listed on the Hong Kong Stock Exchange.

YTD Price Performance: 5.41%

Average Trading Volume: 716,360

Technical Sentiment Consensus Rating: Buy

Current Market Cap: HK$697.9M

For detailed information about 0201 stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1