Planetree International Issues Profit Warning for FY2024

The latest announcement is out from Planetree International Development Limited ( (HK:0613) ).

Planetree International Development Limited has announced a profit warning, indicating an expected loss of approximately HK$213 million for the fiscal year 2024, compared to a loss of HK$177 million in the previous year. The increased loss is attributed to unrealized fair value losses on investment properties, impairment loss on margin loan receivables, net unrealized fair value loss on financial assets, and share of loss from associates. Additionally, the company anticipates a total other comprehensive expense of approximately HK$97 million, driven by fair value changes in equity investments and share of other comprehensive loss from an associate. The final annual results are yet to be confirmed and may be subject to adjustments.

More about Planetree International Development Limited

Planetree International Development Limited is a company incorporated in Bermuda, operating with limited liability. The company, along with its subsidiaries, is involved in various investment activities, including investment properties and financial assets.

YTD Price Performance: -54.17%

Technical Sentiment Signal: Buy

Current Market Cap: €16.85M

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