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An update from Wharf Real Estate Investment Co ( (HK:1997) ) is now available.
Wharf REIC announced its 2024 financial results, highlighting a challenging year with a 3% decline in revenue and a decrease in the total value of investment properties. Despite these challenges, the company managed to increase its underlying net profit by 2% and reduced its borrowing costs through continued deleveraging. The company maintained high occupancy rates in its retail and office properties by offering flexible lease terms and enhancing premises, although it faced pressure from weak retail sales and increased competition. The strategic focus on debt management and maintaining competitiveness in a soft market environment demonstrates Wharf REIC’s resilience and adaptability.
More about Wharf Real Estate Investment Co
Wharf Real Estate Investment Co (Wharf REIC) operates in the real estate industry, focusing on investment properties and hotels primarily in Hong Kong. The company is known for its significant retail and office properties, such as Harbour City and Times Square, which are key landmarks in the region.
YTD Price Performance: 24.30%
Average Trading Volume: 3,068
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $8.3B
For detailed information about 1997 stock, go to TipRanks’ Stock Analysis page.