ESR Group Limited Forecasts Significant Mid-Year Loss

ESR Group Limited (HK:1821) has released an update.

ESR Group Limited has issued a profit warning, anticipating a net loss of approximately US$210 million for the first half of 2024, a stark contrast to the net profit of US$313.9 million in the same period last year. The expected loss is mainly due to non-cash asset revaluations and the absence of promote fee income, reflecting current market challenges. Despite these figures, the company maintains confidence in its underlying business health and strategic direction, focusing on long-term shareholder value.

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