An update from Wing Tai Properties Limited ( (HK:0369) ) is now available.
Wing Tai Properties Limited has issued a profit warning, indicating an expected loss of approximately HK$2,600 million for the year ending December 31, 2024, compared to a loss of HK$890.4 million in the previous year. This increase is attributed to adverse changes in the fair value of investment properties and financial instruments, as well as impairment provisions for properties under development. Despite these non-cash items affecting the financial results, the company’s overall financial, business, and trading positions remain healthy, with no impact on operating cash flow.
More about Wing Tai Properties Limited
Wing Tai Properties Limited is a company incorporated in Bermuda, operating primarily in the real estate industry. The company focuses on investment properties, financial instruments, and property development, with a significant presence in the Hong Kong market.
YTD Price Performance: -18.93%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €261.1M
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