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Wing On Co. International Ltd. ( (HK:0289) ) has shared an update.
Wing On Company International Ltd. has issued a profit warning for the fiscal year ending December 31, 2024, anticipating a loss of approximately HK$919.4 million, a significant downturn from a profit of HK$123.4 million the previous year. This loss is mainly attributed to a substantial valuation loss on its investment properties and a decline in department store operations due to changing shopping habits and increased cross-border spending. Despite a gain in its investment portfolio, the overall financial outlook indicates challenges in occupancy rates and tenant demand for office spaces.
More about Wing On Co. International Ltd.
Wing On Company International Ltd. operates in the retail and real estate sectors, focusing primarily on department stores and investment properties. The company has a significant presence in Hong Kong and Melbourne, Australia, dealing with both retail and office space properties.
YTD Price Performance: -1.67%
Average Trading Volume: 14,326
Technical Sentiment Consensus Rating: Hold
Current Market Cap: HK$3.42B
See more data about 0289 stock on TipRanks’ Stock Analysis page.
