Sino Hotels (Holdings) Ltd. (HK:1221) has released an update.
Sino Hotels (Holdings) Ltd. reported a significant turnaround with a net profit of HK$64.3 million for the financial year ended June 30, 2024, following a net loss in the previous year. The company announced a final dividend of HK1.5 cents per share, on top of an interim dividend, totaling HK3.0 cents for the year, with an option for shareholders to receive dividends in the form of new shares. The recovery was driven by a resurgence in international travel and local tourism, with operational improvements across their hotel portfolio, despite a fair value loss in a real estate investment trust.
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