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.
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