Hong Kong and Shanghai Hotels' (HKG:0045) expects an attributable loss of around HK$450 million for the six months ended June 30, as compared to an attributable profit of HK$94 million a year prior, a Tuesday bourse filing said.
The hotel operator attributed the anticipated swing to loss mainly to a 22% drop in combined EBITDA, higher depreciation, a rise in net financing charges, and the swing to a HK$140 million revaluation loss of its investment properties during the period.
Shares of the company closed over 1% lower on Tuesday.
Price (HKD): $5.60, Change: $-0.07, Percent Change: -1.23%
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