International Business Settlement Expects Annual Loss to Widen 220% Year Over Year; Shares Close 2% Lower

MT Newswires Live

06/23

International Business Settlement (HKG:0147) expects its annual loss to widen 220% year over year, according to a Friday bourse filing.

The property developer expects to incur a loss of approximately HK$400 million for the year ending March 31, widening from a loss of HK$125 million in the comparable, year-ago period.

The company attributed the increase in loss to a number of factors, including impairment losses.

Shares closed 2% lower on Monday.

International Business Settlement expects to report its annual results by the end of June.

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