Magnificent Hotel Posts Mixed Mid-Year Results

Magnificent Hotel Investments Limited (HK:0201) has released an update.

Magnificent Hotel Investments Limited reported a net profit after tax of HK$42 million for the first half of 2024, a significant increase from HK$18 million in the same period the previous year. Despite this profit, the company experienced a gross loss of HK$32.5 million for the period, with a basic loss per share of HK$0.36. These mixed results reflect the company’s financial performance amid a challenging business environment.

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