Hang Lung Group issues profit warningBusiness | 5 Jun 2020 6:37 pm
Hang Lung Group (0010) and Hang Lung Properties (0101) issued a profit warning.
The boards expect that due to Covid-19, the 2020 financial results may be adversely affected by a revaluation loss of the investment properties in Hong Kong and Mainland China and the granting of support measures including rent relief to the group’s tenants in Hong Kong and Mainland China.
However, there will be no material effect on the operating cash flow and dividend distribution capability of the group. The overall financial and business positions of the group remain healthy.