Star Group Co. (01560.HK) announced on August 29th that for the six months ended June 30, 2024, compared to the six months ended June 30, 2023, the company's equity holders are expected to incur a loss of approximately 0.22 billion Hong Kong dollars, compared to a profit of approximately 30 million Hong Kong dollars.

According to the announcement, the expected increase in loss is mainly due to: (i) a gross loss of approximately 51 million Hong Kong dollars from the sale of property units in this period, compared to a gross profit of approximately 1 million Hong Kong dollars in the same period last year; (ii) impairment of held-for-sale properties of approximately 65 million Hong Kong dollars in this period (zero in the same period last year); and (iii) an increase in financing costs (after deducting the capitalized amount of qualified asset costs) of approximately 76 million Hong Kong dollars, increasing from approximately 7 million Hong Kong dollars in the same period last year to approximately 83 million Hong Kong dollars in the current year.