【Résultats 2019】Les pertes annuelles de Shun Hao Property se sont réduites à 178 millions de yuans Pas de distribution de dividendes

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Shun Ho Properties (00219)
Publication of full-year results ending last year shows a narrowed loss of HKD 178 million, compared to a loss of HKD 290 million in the same period last year; the reduction in loss was mainly due to property revaluation and non-cash depreciation decreases. Earnings per share are HKD 34.74. No dividend declared.

During the reporting period, the company’s revenue reached HKD 716 million, an increase of 4.7% year-on-year; the average hotel occupancy rate continued to exceed 90%. Compared to the previous year, hotel income increased by 6% to HKD 587 million.

Looking ahead, the company owns 9 income-generating hotels, of which 7 are located in Hong Kong, one in Shanghai, one in London, and a renovation project for the Wood Street Hotel in London.

As more mainland travelers choose to stay in the Greater Bay Area and visit Hong Kong on day trips, coupled with the ongoing negative impact of the Bay War, the future outlook for hotel business and rental income remains challenging and unstable. Management will continue to work on increasing revenue and controlling costs.

Source: HKEX Announcement

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