NWD to report US$2.4 billion loss in past financial year amid property sector woes

Quick Summary:

A non-cash impairment loss of up to HK$9.5 billion will not have any impact on its core operating profit or operating cash flow, NWD said.

The developer also said that it may record core operating profit from continuing operations of between HK$6.5 billion to HK$6.9 billion, representing a year-on-year decrease of 18 per cent to 23 per cent.

The firm completed more than HK$16 billion of loan arrangements and debt repayments in July and August.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongOman

Topics: Non-cash Statement Development Financial Cent Billion Year Hong Property Loss Mainland

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-31 @ 17:34:30 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22311922

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