Regal Hotels International Holdings Limited (HK:0078) has released an update.
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Regal Hotels International Holdings Limited warns of an expected net loss of approximately HK$1,600 million for the first half of 2024, a significant increase from the previous year’s loss. Despite a steady hotel business performance in Hong Kong with over 60% profit growth before depreciation, high finance costs and a substantial fair value loss on investment holdings in Cosmopolitan International have negatively impacted the Group’s financial results. Investors are advised to exercise caution when dealing in the securities of Regal and RH International.
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