Taikoo shares (019 and 087) issued a profit warning yesterday. It is estimated that the overall regular basic profit for the year will fall
Hong Kong’s amendments continue to reduce Cathay Pacific’s (293) passenger volume and adversely affect bookings. Therefore, Cathay Pacific’s performance in the second half of the year is no longer expected to be better than the first half.
The global economy is expected to continue to be affected by geopolitical and trade frictions, thus affecting the demand for air passenger and freight. The turmoil in the amendments not only reduced the number of visitors to Hong Kong in July, but also adversely affected the booking of seats.
Taikoofang rent is stable
In the real estate sector, as the demonstrations in Hong Kong continued, the retail sales of the malls continued to be affected and rental concessions were offered to some retail tenants. The company expects that the vacancy rate in Central Hong Kong will rise, putting downward pressure on office rents in Central. Despite the increase in supply in other regions, the Taikoo Place development project is expected to stabilize its office rents due to high demand and high occupancy rates.
In the trade and industrial sectors, sales of Swire Resources’ retail outlets continued to be affected by demonstrations in Hong Kong. It is expected that Gion Foods will record a larger loss.
In addition, the offshore industry has not reached the level of the previous expected recovery
It is not optimistic about its prospects. The book value of the fleet of the Taikoo Marine Development Group has been reviewed. It is expected that the company’s consolidated profit forecast for the year will be estimated at about 2.12 billion. The impairment of the yuan.