Far East Consortium International (HK:0035) has released an update.
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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, mainly due to the decreased fair value of investment properties and currency exchange losses. Despite the expected loss, the company’s adjusted net gearing ratio remains stable, aided by favorable foreign currency translations. Investors are advised to exercise caution as the final unaudited results will be released in late November 2024.
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