tiprankstipranks

Magnus Concordia Expects Reduced Annual Loss

Magnus Concordia Expects Reduced Annual Loss

Magnus Concordia Group Limited (HK:1172) has released an update.

Elevate Your Investing Strategy:

Magnus Concordia Group Limited anticipates a significant reduction in its annual loss, with preliminary management accounts suggesting a decrease from around HK$353 million to between HK$112 million and HK$123 million for the fiscal year ending March 2024. The improvement is largely due to a lower provision for the impairment of its property development project in Zigong City, China. However, investors are cautioned that these figures are based on unaudited accounts and are subject to final adjustments.

For further insights into HK:1172 stock, check out 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