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FE CONSORT INTL CEO: Nearly HKD10B Debt Reduced Over Past 3 Yrs; Adj. Net Gearing to Fall Below 50% in a Yr
2026-06-29 09:59:00 FE CONSORT INTL (00035.HK) reported that for the financial year ended March, loss narrowed slightly YoY to HKD1.21 billion, with LPS at HKD39.6 cents. No final dividend was declared. David Chiu, Chairman and CEO of FE CONSORT INTL, said last Friday (26th) that the company has aggressively pared back debt in recent years. As of end-March, the adjusted net gearing ratio dropped to about 63%. Taking into account strategic disposals of non-core assets after the financial year-end and cash proceeds from property sales, the ratio further declined to around 57%, and was expected to sink below 50% within one year, Chiu said. He underscored that the company has reduced debt by nearly HKD10 billion over the past three years, adding that FE CONSORT INTL maintains strong relationships with banks and that no one forced it to repay debts as it took the initiative. Chiu said that even without adding to its land bank, the company still has HKD80 billion in saleable resources. Assuming no further write-downs on upcoming projects and a return of project profit margins to the historical level of 25-30%, full sell-through could enable the company to become debt-free. ~ AASTOCKS Financial News Website: www.aastocks.com | |