Far East Consortium Anticipates Significant Financial Loss

Far East Consortium International (HK:0035) has released an update.

Far East Consortium International Limited has issued a profit warning, anticipating a loss of up to HK$900 million for the six months ending September 2024, compared to a profit of HK$232.24 million in the same period last year. The expected loss is attributed to changes in property values, impairment losses, and currency exchange issues. Despite the anticipated financial downturn, the company’s adjusted net gearing ratio remains stable, buoyed by favorable foreign currency impacts.

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