Sunac Services' net loss widens nearly 4pc to 451m yuan

Sunac Services (1516) saw its net loss for 2024 widen by nearly 4 percent to 451 million yuan (HK$483.4 billion), the company said, mainly due to its impairment provisions on trade and other receivables from related parties.

Excluding these impairment provisions – enacted as a precautionary measure – as well as unrealized fair value changes from financial assets and amortization expenses of intangible assets from acquisitions and mergers, the company’s core net profit remained stable at 796 million yuan, a modest increase over the 793 million yuan seen in 2023.

It declared a final dividend of 14.3 fen.

Revenue dipped slightly by 0.57 percent year-on-year to 6.97 billion yuan.

STAFF REPORTER