Harbour Centre (00051) announces annual performance with a net loss of 70 million Hong Kong dollars attributable to shareholders, a year-on-year decrease of 34.58%.

HARBOUR CENTRE (00051) announced its annual performance for the year ending December 31, 2024, with the group's revenue at HK$1.354 billion, a decrease of 14.25% year-on-year. The company's attributable loss to shareholders was HK$70 million, a 34.58% decrease year-on-year, with a basic loss per share of HK$0.1. The announcement stated that the group achieved a core net profit of HK$83 million (2023: loss of HK$201 million), mainly due to a decrease in impairment provision for property development to HK$237 million (2023: HK$697 million). Loss from property development narrowed to HK$114 million (2023: HK$508 million), profit from investment properties decreased by 15%, and the hotel segment turned to a loss of HK$66 million (2023: profit of HK$3 million), attributed to the slowdown in tourism demand in Hong Kong and mainland China and intense price competition.