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Crown International Warns of Swing to Fiscal-Year Profit

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Crown International (HKG:0727) expects an attributable loss of at least HK$70 million for the year ended March 31, compared with attributable profit of HK$16 million a year prior, according to a Thursday Hong Kong bourse filing.

The property developer attributed the forecast to a rise in impairment losses on property, plant and equipment; properties under development for sale; and trade and other receivables. Another factor was the higher depreciation on property, plant, and equipment in the period.

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