Wynn Real Estate Development (00864) expects a significant increase in profit year-on-year in 2021

2022-06-18 0 By

Wynn Real Estate Development (00864) announced that the group expects a significant increase in profit in 2021 compared to the same period last year.This is mainly due to the expected net increase in equity values of the Group’s investment properties in 2021 and net decrease in equity values compared to 2020, reflecting the prevailing market conditions in the commercial retail and residential property markets in Hong Kong during the review period.It is expected that the net increase in fair value of the group’s investment properties by 2021 will be in the range of HK $200,000 to HK $2 million (with a net reduction in fair value of about HK $111 million in 2020).