In the first half of the year, LANGHAM's distributable income was 28 million yuan, a decrease of 17.6%, and no distribution will be made

LANGHAM-SS (01270.HK) announced its interim results for the six months ending in June, recording distributable income of HKD 28 million, a year-on-year decline of 17.6%. Given the uncertain outlook for hotel operations and the fluctuating interest rate environment, it has decided not to distribute any income. During the period, the total revenue of the hotel portfolio was HKD 738 million, a decrease of 4.6%.

In the first half of the year, it recorded a loss of HKD 142 million, compared to a net profit of HKD 43 million in the same period last year, turning from profit to loss, mainly due to fair value losses of approximately HKD 170 million from investment properties and derivative financial instruments. Excluding the fair value changes of investment properties and derivative financial instruments, the net profit recorded was HKD 28.4 million, an increase of 560.5%