LANGHAM-SS released its interim results, with a loss attributable to shareholders of approximately HKD 142 million, turning from profit to loss year-on-year
LANGHAM-SS released its interim results for the period ending June 30, 2025, reporting a loss attributable to shareholders of approximately HKD 142 million, a shift from profit to loss year-on-year. The hotel portfolio revenue was approximately HKD 738 million, a decrease of 4.58% year-on-year; net property income was approximately HKD 174 million, a decrease of 3.87% year-on-year. Distributable income was approximately HKD 28 million, a decrease of about 17.65% year-on-year. The loss was primarily due to a decline in the valuation of the hotel investment portfolio and fair value losses on investment properties
According to the Zhitong Finance APP, LANGHAM-SS (01270) released its consolidated performance for the six months ending June 30, 2025. The group achieved hotel portfolio revenue of approximately HKD 738 million, a year-on-year decrease of 4.58%; net property income of approximately HKD 174 million, a year-on-year decrease of 3.87%; a loss attributable to shareholders of approximately HKD 142 million, compared to a profit of approximately HKD 43 million in the same period last year; and distributable income of approximately HKD 28 million, a year-on-year decrease of approximately 17.65%.
The announcement stated that the loss attributable to shareholders was due to a slight decline in the valuation of the hotel investment portfolio to HKD 15.764 billion, down from HKD 15.895 billion as of December 31, 2024. The total fair value loss on investment properties and derivative financial instruments was HKD 171 million, while financing costs during the period decreased by 15.4% (equivalent to HKD 25.1 million) due to a decline in the average Hong Kong Interbank Offered Rate, offsetting some of the losses
