New World Development reports $852 million net loss in H1

Reuters
02-28
New World Development reports $852 million net loss in H1

HONG KONG, Feb 28 (Reuters) - Hong Kong's New World Development 0017.HK reported on Friday a net loss of HK$6.63 billion ($852.45 million) for the first half ended in December, hurt by impairment and fair-value losses.

The figure, which counts only continuing operations, compares with a HK$502 million net profit a year earlier and follows a record HK$11.8 billion net loss for the full 2023/2024 financial year.

($1 = 7.7776 Hong Kong dollars)

(Reporting by Rajasik Mukherjee and Clare Jim; Editing by Jacqueline Wong)

((clare.jim@thomsonreuters.com;))

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