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Dynamic Holdings Turns to Fiscal H1 Earnings as Fair Value on Investment Properties Rises; Shares Drop 6%

MT Newswires ·  {{timeTz}}

02:40 AM EST, 02/28/2022 (MT Newswires) -- Dynamic Holdings (HKG:0029) said it swung to fiscal H1 earnings of HK$0.2042 ($0.026) per share from a loss of HK$0.1434 in the previous year.

Profit attributable to shareholders of the company in the six months ended Dec. 31, 2021 stood at HK$48.5 million versus a loss of HK$34.1 million a year prior, according to a late Friday filing.

Revenue rose to HK$43 million year over year from HK$42.3 million.

The improved results were driven by a HK$48 million jump in fair value of investment properties versus an HK$84.7 million drop a year prior.

The property investor trimmed its interim cash dividend per share to HK$0.005 year over year from HK$0.01, payable April 29 to shareholders of record on April 8.

Shares slumped over 6% recently.

Price (HKD): $10.12, Change: $-0.68, Percent Change: -6.30%

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