Sunac Services Flags Up to 500 Million Yuan Loss in H1

MT Newswires Live08-20

Sunac Services Holdings (HKG:1516) expects a maximum loss attributable to owners of 500 million yuan for the six months ended June 30, a Monday filing with the Hong Kong Exchange said.

The company also expects that after disregarding some impairment provisions, the group's core net profit attributable to owners for the reporting period will not be less than the same period last year.

The company attributed the loss during the period to an increase in provision of impairment for the due payments from parties related to the transactions in the last year.

The company's shares were down over 1% in recent trade.

Price (HKD): $1.70, Change: $-0.020, Percent Change: -1.16%

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