New World Development posts HK$26.8 billion net loss
0017.HK
Statements (4)
- Bearish
New World Development reported a loss of nearly HKD 26.82 billion for the past fiscal year, an increase of nearly 64% year over year, mainly due to non-cash impairment losses and provisions related to the 11 SKIES project
- Bearish
New World Development's consolidated net debt increased by about HKD 6.2 billion year over year to approximately HKD 126.3 billion
- Bearish
New World Development's revenue fell 28% year over year to HKD 19.99 billion, mainly due to decreased construction business revenue and fewer property deliveries in mainland China, partially offset by increased property deliveries in Hong Kong
- Bearish
New World Development reported a net loss of HK$26.8 billion for the year ended June