Hongkong Land Weathers Market Challenges

Hongkong Land Holdings (SG:H78) has released an update.

Hongkong Land Holdings Limited reports a steady underlying profit in Q1 2024, mirroring the previous year’s results, but faces challenges in China’s residential sector with a 36% drop in sales. Despite these difficulties, the company’s financial standing remains robust, with significant liquidity and gearing at 16%. The company anticipates a non-cash impairment charge due to market conditions, but shows resilience with improved retail performance in Hong Kong and positive rental reversions in Singapore.

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