Wing Tai Holdings reports FY2024 loss of $78.7 mil
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 27 2024
0mins
Source: Yahoo Finance
Financial Performance: Wing Tai Holdings reported a net loss of $78.7 million for FY2024, a significant decline from the previous year's earnings of $13.3 million, primarily due to non-cash losses and a share of loss from Wing Tai Properties Limited.
Revenue Decline: The group's revenue decreased by 64% year-on-year to $169.17 million, attributed to lower contributions from development properties, despite some sales from The LakeGarden Residences and other projects in Singapore and Malaysia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
