LIU CHONG HING reported a mid-term loss of HKD 270 million, with a dividend of 11 cents, and a revenue drop of 27%
Liu Chong Hing Enterprises announced its interim results, reporting a net loss of approximately HKD 270 million for the six months ended June 30, compared to a net profit of HKD 16.6 million in the same period last year. Revenue was approximately HKD 440 million, down 19.9%; rental income fell by 1.7%, and revenue from property development in mainland China dropped by about 41%. The loss per share was HKD 0.71, and an interim dividend of HKD 0.11 per share was declared
According to a report from Economic Information Agency on the 14th, LIU CHONG HING (00194) announced a mid-term net loss of approximately HKD 270 million for the period ending June 30, compared to a net profit of HKD 16.6 million in the same period last year; the loss per share is HKD 0.71, and an interim dividend of HKD 0.11 per share is declared.
The group indicated that revenue was approximately HKD 440 million, a decrease of 19.9%; among which rental income was about HKD 160 million, down 1.7%, with a rental rate of 88% maintained at the end of June. Revenue from property development in mainland China was HKD 130 million, a decrease of about 41%, and the performance of joint ventures turned from profit to loss, with a loss of HKD 6.845 million; the pre-tax loss was HKD 189 million, while in the same period last year, the pre-tax profit was HKD 1.637 million. (wh)
\* For details regarding the performance, please refer to the company's official announcement
