For the six months ended June 30, Chinese Estates Holdings Ltd. expects revenue to decline 60% to 70% and profit to slide down 8% to 18% year over year.
According to its profit warning, some of the reasons for the expected declines are the disposal of properties in February, a decline in sales of trading properties and gain on fair value changes on investment properties.
In the six months to June 30, 2016, the company's revenue was about HK$1.95 billion and net profit attributable to owners of the company was HK$2.93 billion.