Wing Tai Holdings warns of net loss in FY24

The group assured that its financial position is healthy.

Wing Tai Holdings expects to report a net loss for the fiscal year ended 30 June 2024 (FY 2024), citing changes in the fair value of its investment properties and the provision for impairment losses on the development properties overseas.

“The fair value losses on investment properties and the impairment losses on development properties are non-cash in nature,” the group said in a bourse filing.

Wing Tai Holdings assured that the group’s financial position remains healthy with a low net gearing ratio of approximately 0.07 times as at 30 June 2024.

The group’s full FY2024 results will be disclosed on 27 August.

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