ITC Properties Group Limited provided consolidated earnings guidance for six months ended 30 September 2022. The group Limited expected to record a net profit attributable to the owners of the Company of not less than HKD 100.0 million for the Period, as compared with that of approximately HKD 558.8 million for the six months ended 30 September 2021. Due to the fifth wave of COVID-19 pandemic, the property market in Macau has been further adversely impacted which in turn affected the sale performance of a residential project in Macau developed by an associate of the Group.

It is expected that there will be share of net losses of the Group's associates of not less than HKD 10.0 million for the Period, as compared with share of net profits of the Group's associates of approximately HKD 741.1 million for HY2021; and Following the resumption of international travel, the tourism and hospitality industry in Canada is on the path of recovery. It is expected that there will be an increase in fair value of a hotel property located in Canada, which is held by a joint venture of the Group, of not less than HKD 120.0 million. As a result, share of the reversal of impairment loss of the joint venture's hotel property for the Period is expected to be not less than HKD 60.0 million.