Far East Hotels Issues Profit Warning Amid Revenue Decline

Far East Hotels & Entertainment Ltd. (HK:0037) has released an update.

Far East Hotels & Entertainment Ltd. has issued a profit warning, anticipating a net loss of approximately HK$23 million for the first half of 2024, significantly higher than last year’s HK$8 million loss for the same period. The company attributes this downturn to reduced revenue from its hotel operations in Hong Kong and serviced property lettings in Mainland China, alongside a drop in the fair values of its investment properties in Hong Kong. Investors are advised to approach the company’s shares with caution as further financial details are expected by November’s end.

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