New Century Group Reports Sharp Profit Decline

New Century Group Hong Kong Limited (HK:0234) has released an update.

New Century Group Hong Kong Limited reported a significant drop in profit for the first half of 2024, with earnings falling to HK$2.38 million from HK$40.82 million in the same period last year. The decline was attributed to fair value losses on investment properties and increased impairment provisions. Despite the challenging results, the company continues to focus on its strategic operations.

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