Financial news
Written by: Lin Leqian
2020-02-28 13:13
Last updated: 2020-02-28 13:14Wharf (0051), a subsidiary of Wharf Real Estate (1997), announced that earnings attributable to shareholders decreased by 86% to 117 million yuan, mainly due to a loss on asset valuation, with earnings per share of 0.17 yuan. The second interim dividend of 15 HK cents per share will be paid, and the annual dividend will be 22 HK cents.
During the period, basic profit decreased by 15% to 435 million yuan, and revenue decreased by 12% to 1.395 billion yuan. Mainly due to the impact of social events, hotel revenue decreased by 15%, and operating loss increased to 76 million yuan, of which Marco Polo Hotel Earnings fell by 50%. The Murray also recorded operating losses due to depreciation and increased costs.
The group stated that it has been shrouded in a dangerous “perfect storm” until 2020. The weak market in January was faced with an instant disaster. Although hotel room rents were sharply split, the occupancy rate fell below 10%. And the retail industry is likely to have experienced the most severe conditions, with the title "When is the crisis?"
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Wharf Real Estate
