Cheuk Nang (HKG:0131) expects an attributable loss of between HK$980 million and HK$1.1 billion for the year ended June 30, compared with an attributable profit of HK$172 million a year prior, a Sept. 19 Hong Kong bourse filing said.

Shares of the real estate company were down 1% in Monday afternoon trading.

The firm attributed the forecast to a lower gross profit, a higher fair value loss of investment properties, a boost in administrative expenses, and a drop in income tax credit.