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00069 SHANGRI-LA ASIA
RTNominal up5.580 +0.010 (+0.180%)
Others

08/06/2020 10:55

Shangri-La Asia (00069) sees interim net turn to red

[ET Net News Agency, 8 June 2020] Shangri-La Asia Limited (00069) said the group may
report a loss for the six months ending 30 June 2020, as compared to a profit attributable
to equity shareholders of USD115.1 million for the corresponding period in 2019.
This is due mainly to the severe business disruptions caused by the COVID-19 pandemic to
the operations of the group's hotel properties. Particularly for the months of March and
April 2020, the group's effective share of revenue decreased by almost 80% when compared
to the group's monthly average effective share of revenue for 2019. The operations of the
group's hotel properties during this period were severely impacted by the effects of
travel restrictions, social distancing measures, and governmental actions connected with
the COVID-19 pandemic. (RC)

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