HK's Henderson Investment drops most in 4 months on weak earnings outlook

Henderson Land Development Co

19/01/2022 06:37

** Shares of Henderson Investment Ltd  0097.HK , operator of
Hong Kong's Citistore department stores, fall 4% to HK$0.36
    ** Stock on track for biggest daily percentage decline since
Sept. 20, down for a second straight session
    ** Henderson Land Development's  0012.HK  department store
operation arm expects 2021 net profit to drop 73% from a year
ago  urn:newsml:reuters.com:*:nFWN2TY1F7
    ** Cites non-occurrence of wage subsidies from the Hong Kong
government's Employment Support Scheme and rental concessions
from landlords 
    ** Says net profit also hit by weaker customer demand for
food and daily necessities at co's supermarkets as social
distancing measures eased during the year under review 
    ** The Hang Seng consumer goods and services index  .HSCGSI 
falls 1.7% while the Composite Industry Index tracking consumer
staples  .HSCICS  edges up 0.01%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both slip 0.4%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))