Stamford Land is expecting to report a net loss in the 1HFY2024 ended Sept 30. This is mainly due to the fair value loss on the group’s investment property in London, says the group in its Oct 23 statement.
The profit guidance is based on a preliminary assessment of the group’s unaudited consolidated management accounts for the six-month period.
The group will announce its results for the 1HFY2024 on or before Nov 10.
In the 1HFY2023, Stamford Land H07 reported a loss of $32.1 million. For the FY2023, however, the group reported earnings of $152.4 million.
Shares in Stamford Land closed 1 cent higher or 2.7% up at 38 cents on Oct 23.
