FE HOTELS issued a profit warning, expecting an annual net loss of approximately HKD 33 million to HKD 37 million
FE HOTELS issued a profit warning, expecting an annual net loss of approximately HKD 33 million to HKD 37 million for the year ending March 31, 2025, an increase compared to HKD 33 million for the same period in 2024. The main reasons include a decline in hotel business in Hong Kong and rental income from serviced properties in mainland China, as well as a decrease in the fair value of investment properties
According to the announcement from FE HOTELS (00037), the group expects to incur a net loss of approximately HKD 33 million to HKD 37 million for the fiscal year ending March 31, 2025, compared to a net loss of approximately HKD 33 million for the fiscal year ending March 31, 2024.
The anticipated net loss for the current year compared to the above is mainly attributed to (i) a decline in hotel operations in Hong Kong and rental income from serviced properties in mainland China; and (ii) a decrease in the fair value of the group's investment properties
