Harbour Center Development (0051) said profit plunged by 86 percent year-on-year to HK$117 million mainly due to a revaluation deficit of HK$161 million. The underlying profit dropped by 15 percent to HK$435 million due the weak performance of hotel and investment properties. Revenue from the hotel business fell by 15 percent to HK$835 million and the net loss was HK$76 million. Shares of Harbour Center Development dropped by 4.35 percent toHK$10.12. Wheelock and Company (0020) fell back 10.08 percent to HK$59.35 after the shares recorded a high yesterday.

Source: The Standard February 28, 2020 09:33 UTC