STYLAND HOLD (00211) announced that the group's expected loss for the financial year ending March 31, 2024 will be approximately HKD 76.8 million, an increase of approximately HKD 7.68 million from the net loss of approximately HKD 68.7 million in the same period of the previous year (financial year 2023).

The announcement stated that the increase in the net loss for the financial year 2024 was mainly due to an increase of approximately HKD 7.5 million in fair value losses on investment properties compared to approximately HKD 14 million in the financial year 2023; an increase of approximately HKD 4.7 million in financing costs compared to approximately HKD 13.2 million in the financial year 2023; an increase of approximately HKD 2.8 million in expected credit losses recognized for loans and other receivables compared to approximately HKD 0.34 million in the financial year 2023; an increase of approximately HKD 2.2 million in fair value losses on financial assets recognized in profit or loss compared to approximately HKD 0.6 million in the financial year 2023. However, these were partially offset by an increase of approximately HKD 4.5 million in the reversal of expected credit losses recognized for loans and other receivables compared to approximately HKD 0.2 million in the financial year 2023; and a decrease of approximately HKD 4.6 million in administrative expenses compared to approximately HKD 56.6 million in the financial year 2023.