Lung Kee Group Narrows Losses in 2024 H1

Lung Kee (Bermuda) Holdings Limited (HK:0255) has released an update.

Lung Kee Group Holdings Limited reports a reduced loss of HK$23,915,000 for the first half of 2024, a notable improvement from the HK$31,506,000 loss in the same period last year. Despite a revenue increase to HK$785,212,000 from HK$708,923,000, the company faced other financial setbacks including a decrease in the fair value of investment properties and higher expenses across various categories. The overall comprehensive expense also decreased to HK$63,300,000 from HK$101,331,000, reflecting challenges but some positive shifts in the company’s financial performance.

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