Kato (Hong Kong)'s (HKG:2189) shares slid over 1% in Friday afternoon trading amid a lower profit forecast for the year ended March 31, according to a late Thursday Hong Kong bourse disclosure.

The daycare services provider expects an attributable profit of at least HK$18 million for the fiscal year, down from HK$64.2 million a year prior.

The firm attributed the lower anticipated profit mainly to the recognition of a fair value loss on investment properties in the year.