(Alliance News) - Macau Property Opportunities Fund Ltd on Thursday said its interim loss widened, blaming a difficult trading backdrop during the half-year period, though it believes an easing of Covid-19 curbs will be a tailwind.
The Macau-focused investment company Macau said its pretax loss in the six months that ended December 31 was USD5.4 million, widening from USD4.5 million a year earlier.
During the same period, its fair value loss on disposals of investment property was USD7.7 million, against none a year earlier.
Its net asset value per share fell to USD1.19 on December, from USD1.51 a year earlier and USD1.25 at the end of June.
Macau Property declared no dividend for the period.
"Throughout the period, our divestment process continued against a very difficult backdrop, with a consistent focus on marketing more units at The Waterside. We have maintained a pragmatic, measured approach to market conditions, balancing our need for debt reduction and working capital with the market's emerging upside potential," said Chair Mark Huntley.
"The dramatic effects of the easing of Covid-related restrictions can only benefit the outlook for Macau, leading to a more supportive environment for the company as it pursues its divestment strategy."
Shares in Macau Property closed up 0.4% to 56.50 pence each in London on Thursday.
By Greg Rosenvinge, Alliance News reporter
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Macau Property (MPO)