Hap Seng Consolidated 4Q profit down 62% as key segments drag
For the full-year, Hap Seng’s net profit fell 15.
For the full-year, Hap Seng’s net profit fell 15.
The group said its lower profit for the year and quarter under review were due to higher staff costs, bank facility charges and marketing promotional expenses.
For its property-related businesses, the group remained vigilant in the timing of the new launches and challenges associated with sales, in view of the global geopolitical conflicts and the macroeconomic inflationary impacts on construction, material, and labour costs.
For its full FY2023, Tropicana narrowed its net loss to RM174.
UOA Development said new property sales during the year totalled RM827.
UEM Sunrise declared a dividend of 0.
Revenue for 4QFY2023 rose 27.
For 2024, the company said it is targeting sales of at least RM2.
WCE Holdings updated that the construction of Section 11 of the WCE project has been completed and is currently at the inspection stage.
The net loss in the quarter was mainly due to its subsidiary HR Owen plc reporting a loss, which is attributed to lower revenue coupled with higher operating expenses incurred due to inflationary pressure and the higher depreciation following the completion and full operation of Hatfield Center.