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Hopefluent to Swing to Loss in FY21

MT Newswires ·  {{timeTz}}

06:17 AM EDT, 03/24/2022 (MT Newswires) -- Hopefluent Group Holdings (HKG:0733) expects to incur an attributable loss of HK$500 million to HK$590 million ($64 million to $75.4 million) in 2021, which would reverse a profit of HK$184 million in 2020.

The real estate agency attributed the downbeat forecast to the provision of additional loss allowance on expected credit loss of the group's outstanding loan receivables and accounts receivables from certain customers.

Hopefluent also cited the overall downturn in the real estate market as another reason for the gloomy projection, according to a late Wednesday disclosure.

Price (HKD): $1.27, Change: $-0.11, Percent Change: -7.97%

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