Kowloon Development Co. Faces Market Headwinds

Kowloon Development Co. Faces Market Headwinds

Kowloon Development Co (DE:KOX) has released an update.

Kowloon Development Co. reported a marginal increase in underlying profit for H1 2024, up 0.3% to HK$289 million, despite a significant 38.6% drop in unaudited profit attributable to shareholders at HK$113 million. The company also announced a reduced interim dividend of HK$0.10 per share compared to HK$0.26 in the previous year. The performance reflects a challenging market with high interest rates dampening buyer interest, declining property prices, and a slump in both the Hong Kong and Mainland China real estate markets.

For further insights into DE:KOX stock, check out TipRanks’ Stock Analysis page.

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