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<Warning>HK&S HOTELS Expects to Swing Profit into Loss of ~$450M in Interim Period
Recommend 6 Positive 4 Negative 14 |
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HK&S HOTELS (00045.HK) anticipated to record a net loss of approx. $450 million for the six months ended 30 June, as compared to a net profit of $94 million for the same period last year. The reason for the turnaround from a profit to loss includes a reduction of 22% in combined EBITDA achieved by the Group as The Peninsula New York is under renovation, the newly opened Peninsula hotels in London and Istanbul still require time to ramp up to a stabilized stage of operation, and the Group have experienced weak markets in a number of its other hotels, according to the Group. AAStocks Financial News |
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