The latest update is out from Paliburg Holdings Limited ( (HK:0617) ).
Paliburg Holdings Limited has issued a profit warning, anticipating a net loss of approximately HK$1,643 million for the year ending December 31, 2024, compared to a loss of HK$1,042 million the previous year. The increased loss is attributed to sluggish real estate market conditions in Hong Kong and China, which slowed property sales and reduced profit contributions. Despite steady operations in its hotel business, the company faced substantial finance costs due to high interest rates and significant depreciation charges, adversely impacting its financial results.
More about Paliburg Holdings Limited
Paliburg Holdings Limited operates primarily in the property development and investment sector, as well as hotel ownership and operations. The company is involved in real estate markets in Hong Kong and China and manages its hotel business through its listed subsidiary, Regal Hotels International Holdings Limited.
YTD Price Performance: -6.73%
Average Trading Volume: 86,403
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$568.4M
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