Guangdong Land Foresees Nine-Month Loss to Widen
MT Newswires Live2024-10-14
Guangdong Land (HKG:0124) expects its attributable loss to widen to HK$200 million in the nine months ended September from HKHK$67.9 million a year earlier, according to a Monday filing with the Hong Kong Exchange.
The foreseen higher loss is attributable to a decline in fair value gains on investment properties and lower profits from property sales, among other factors, the filing said.
Finance costs also increased during the period, the filing said.
The property developer plans to release its nine-month results by the end of October.
Shares closed 8% lower during Monday's trading.
Price (HKD): $0.40, Change: $-0.035, Percent Change: -8.14%
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