Landing International issues profit warning for 16H1

HK-listed Landing International Development Ltd announced on Monday that it is expected to report a “significant increase” in net loss for the six months ended June 30, 2016, compared to the corresponding period in 2015.  

The company, which is involved in developing a casino resort on South Korea’s Jeju Island said the loss is mainly attributable to “a change in fair value of financial assets”, “an increase in administrative expenses incurred in the construction and planning stages of the integrated resort development and property development”, and “an increase in other operating and administrative expenses due to expansion of the group”.

The interim results of the Company for the six months ended 30 June 2016 are expected to be published in late August 2016.