ASIASEC PPT released its annual performance, reporting a loss of HKD 74.752 million, turning from profit to loss year-on-year
ASIASEC PPT released its 2024 annual performance, with revenue of HKD 47.286 million, an increase of 0.86% year-on-year. However, it reported a loss of HKD 74.752 million, compared to a profit of HKD 265 million in the same period last year, resulting in a loss of HKD 6.03 per share. The loss was mainly due to a fair value loss of HKD 67.862 million on investment properties and an increase in financing costs of HKD 15.884 million
According to the Zhitong Finance APP, ASIASEC PPT (00271) released its 2024 annual performance, reporting revenue of HKD 47.286 million, an increase of 0.86% year-on-year; the group incurred a loss of HKD 74.752 million this year, compared to a profit of HKD 265 million in the same period last year; the loss per share is HKD 0.0603.
The main reasons for the change in the group's financial performance are: a fair value loss on investment properties of HKD 67.862 million, compared to a fair value gain on investment properties of HKD 259 million last year; and an increase in financing costs of HKD 15.884 million, primarily due to higher financing costs related to other borrowings taken in the second half of last year compared to the previous year
