Styland Holdings Limited (HK:0211) has released an update.
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Styland Holdings Limited has issued a profit warning, alerting shareholders and potential investors to an expected net loss of HK$76.8 million for the fiscal year 2024, which is an increase from the previous year’s HK$68.7 million loss. The larger loss is due to a combination of factors, including increased fair value loss on investment properties, higher finance costs, and greater expected credit losses, despite some offsets from administrative expense reductions and ECL reversals. The company advises caution when dealing with its securities and will publish the confirmed results on 27 June 2024.
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