Success Universe Forecasts Up to 50% Drop in 2024 Profit

MT Newswires Live

03/14

Success Universe (HKG:0487) forecasts its profit to decline 40% to 50% in 2024 from HK$169 million in 2023, according to a Thursday filing with the Hong Kong exchange.

The foreseen decrease is attributable to higher fair value losses on investment properties and the write-down on the stock of properties, impairment losses on leasehold land, and lower share of profits from its Ponte 16 flagship investment project, the filing said.

The travel and lottery company plans to release full-year earnings in late March.

Shares rose 1% during Friday's afternoon trading.

Price (HKD): $0.08, Change: $+0.0010, Percent Change: +1.30%

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