Sun Hung Kai Predicts Notable Profit Recovery

Sun Hung Kai & Co. Limited (HK:0086) has released an update.

Sun Hung Kai & Co. Limited has issued a positive profit alert, anticipating a significant turnaround with an expected profit of HK$80 million for the first half of 2024, compared to a HK$288 million loss in the same period last year. The improvement is attributed to a reduced loss in the Investment Management business, despite challenges in the Credit business due to a weak local economy and high interest rates. The company urges shareholders and potential investors to be cautious when dealing with its securities and will release detailed interim results in August 2024.

For further insights into HK:0086 stock, check out TipRanks’ Stock Analysis page.