KRP Development Holdings (HKG:2421) expects an 80% year-over-year decline in attributable profit for the year ended March 31, a May 24 filing on the Hong Kong bourse said.
The boutique residential property developer attributed the plunge in profit mainly to a lower property sales revenue and the provision for impairment loss on inventories, according to the filing.
Shares of the company closed nearly 3% higher on Monday.
Price (HKD): $0.71, Change: $+0.02, Percent Change: +2.90%
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