New World Development (HKG:0017) expects an attributable loss of between HK$6.6 billion to HK$6.8 billion from continuing operations for the six months ended Dec. 31, 2024, compared with an attributable profit a year prior, a Feb. 21 filing with the Hong Kong bourse said.
The property developer attributed the higher anticipated loss mainly to an impairment loss on certain development properties, a higher fair value loss of investment properties, a lower gain on the redemption of fixed rate bonds, and the absence of a one-off gain on transfer to investment properties.
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