Property News · August 11, 2017

Chinese Estates issues first-half profit warning, as rental income falls


Shares in Chinese Estates Holdings, controlled by Hong Kong property tycoon Joseph Lau Luen-hung’s wife Chan Hoi-wan, dropped 3 per cent on Friday after it posted a profit-warning for the half-year, due to reduced rental income and residential sales.
The Hong Kong landlord expects net profit to drop between 8 and 18 per cent in the half, compared with HK$2.9 billion (US$371 million) recorded in the same period last year, with revenue to slump between 60 and 70 per cent.
The decline in…

Source : South China Morning Post
Read more…Chinese Estates issues first-half profit warning, as rental income falls

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