The United Group (00373) issued a profit warning that the Group expects to record a consolidated loss attributable to the company's shareholders of no more than HK $200 million for the six months ended June 30, 2023, compared with approximately HK $600 million for the company's unaudited shareholders in the same period in 2022.
According to the announcement, the decrease in loss was mainly due to: (I) a decrease in the loss attributable to Sun Hung Kai; (ii) a net increase in the value of the Group's properties due to changes in fair value and impairment assessment, compared with a net decrease compared to the same period in 2022; and (iii) an improvement in the performance of the Group's share of associates and joint ventures.