Y.T. REALTY issued a profit warning, expecting an estimated annual loss attributable to shareholders of approximately HKD 1 million to approximately HKD 8 million, a year-on-year decrease
Y.T. REALTY issued a profit warning, expecting a loss attributable to shareholders of approximately HKD 1 million to HKD 8 million for the year ending December 31, 2024, a decrease compared to the same period last year. The loss for the same period in 2023 was HKD 30 million. The reduction in loss is mainly due to lower selling expenses and financial costs, improvement in the fair value of investment properties, and a decrease in impairment of property development projects, but this was offset by a decline in gross profit from property sales and an increase in income tax
According to the Zhitong Finance APP, Y.T. REALTY (00075) announced that the group expects to incur an estimated loss attributable to shareholders of approximately HKD 1 million to approximately HKD 8 million for the year ending December 31, 2024, compared to a loss of HKD 30 million for the year ending December 31, 2023.
The decrease in loss is mainly due to reduced selling expenses and financial costs, improved changes in the fair value of investment properties, and a decrease in impairment of certain property development projects, but offset by a decrease in gross profit from property sales and an increase in income tax
