[ET Net News Agency, 20 December 2019] Midland Holdings Limited (01200) said it is
expected that the group will record a consolidated net loss attributable to equity holders
for the year ending 31 December 2019 as compared to the consolidated net profit
attributable to equity holders of approximately HK$58 million for the year ended 31
December 2018.
The group's results for the year ending 31 December 2019 have been adversely affected by
factors including global economic uncertainties and dampened economic sentiment in Hong
Kong, which lead to (1) sharp drop in the local residential property market sales
activities in the second half of 2019 (up to November 2019) as compared to first half of
2019; and (2) poor financial performance of the business under the brand name "Hong Kong
Property", which is wholly-owned by the group, accounted for a significant portion of the
group's net loss, despite profit recorded for the business under the brand name
"Midland Realty". (RC)
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01200 MIDLAND HOLDING
Nominal 
0.890 +0.010 (+1.136%) Others
20/12/2019 11:30
Midland Holdings (01200) sees year net turn to red
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