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Paliburg Holdings Reports Increased Loss in 2024 H1

Paliburg Holdings Reports Increased Loss in 2024 H1

Paliburg Holdings Limited (HK:0617) has released an update.

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Paliburg Holdings Limited reported a consolidated loss of HK$676.3 million for the first half of 2024, a significant increase from the loss in the same period in 2023, mainly due to a decline in property sales and increased finance and taxation costs. Despite challenging conditions, its hotel business achieved a 60% growth in operating profit, but overall gross profit and EBITDA saw substantial declines. The company’s financial performance was impacted by the downturn in real estate markets and high interest rates.

For further insights into HK:0617 stock, check out TipRanks’ Stock Analysis page.

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