New World Department Store to Narrow Loss in Fiscal Year 2021

MT Newswires · 08/30/2021 17:31

05:31 AM EDT, 08/30/2021 (MT Newswires) -- New World Department Store China (HKG:0825) expects to book a loss of HK$230 million ($29.5 million) for the fiscal year ended June 30, down from HK$483.7 million a year earlier, according to a late Friday filing.

The department stores operator attributed the improved outlook on lower operating expenses and decreased impairment loss on assets, as well as higher net exchange gain on the Hong Kong dollar versus the yuan.

Price (HKD): $1.29, Change: $0.03, Percent Change: +2.38%

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