Lai Sun Development Co (HK:0488) has released an update.
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Lai Sun Development Co. has issued a profit warning, anticipating a consolidated loss between HK$3,490 million and HK$3,860 million for the year ended 31 July 2024, a significant increase from the previous year’s HK$2,966 million loss, primarily due to higher losses from joint ventures. Shareholders and potential investors are cautioned to be prudent when trading the company’s shares. The final audited financial results are scheduled for release on 18 October 2024.
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