New Century Group Hong Kong (HKG:0234) expects an attributable loss of up to HK$6 million for the six months ended Sept. 30, compared with an attributable profit of HK$26 million a year prior, a Tuesday bourse filing said.
The anticipated swing to loss was mainly due to fair value losses on investment properties, a higher provision for impairment losses on repossessed assets and loan and interest receivables for mortgage loans, and the absence of a unit disposal gain seen in the previous period.
Shares of the money lender closed 6% lower on Tuesday.
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