New Century Group warns of 80pc profit plunge

Business | 11 Jun 2019 4:48 pm

New Century Group Hong Kong (0234) said it expects profit for the year ended March 31, to drop by more than 80 percent, from the year before.

The substantial decline is mainly attributable to  net realized and unrealized losses of equity investments at fair value through profit or loss; net realized and unrealized gains; drop in charter service income from cruise ships; decline in fair value gains on investment properties; foreign exchange losses; increase in administrative expenses, and increase in deferred tax expense.

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