Magnificent Hotel Investments Reports 151% Profit Increase Despite Overall Loss

Magnificent Hotel Investments Limited ( (HK:0201) ) just unveiled an update.

Magnificent Hotel Investments Limited reported a significant increase in net profit after tax attributable to owners before revaluation, depreciation, and impairment for the year ended December 31, 2024, reaching HK$104 million, a 151% rise from the previous year. Despite this profit increase, the company experienced a loss after taxation and non-controlling interests of HK$44.8 million, and the Board decided not to recommend a final dividend for the year, reflecting ongoing financial challenges and strategic decisions impacting stakeholders.

More about Magnificent Hotel Investments Limited

Magnificent Hotel Investments Limited operates in the hospitality industry, focusing on hotel investments and management. The company is incorporated in Hong Kong and is listed on the Stock Exchange of Hong Kong.

YTD Price Performance: 8.57%

Average Trading Volume: 703,720

Technical Sentiment Consensus Rating: Buy

Current Market Cap: HK$680M

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