Sino Group reports 24.7% profit decline on slower home sales, higher revaluation losses

Quick Summary:

Sino Land’s profit declined by about a quarter in its financial year ending in June, as sales of homes and car parks slowed while revaluation losses surged.

Sino Group said there were lingering challenges such as high interest rates, sustained inflation and geopolitical tensions.Sino Group reports 24.

Sino Land proposed a dividend of HK$0.43 per share, with the board of directors giving shareholders the option to receive the final dividend in new shares instead of cash, subject to conditions.

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Article Details

Author / Journalist: Cheryl Arcibal

Category: Business

Markets: Hong KongChina

Topics: Cent Financial Billion Profit Group Challenges Sino Year Land Hong Sales

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-27 @ 20:43:39 (4 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 670 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 36 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22281811

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