Mainland hotel provisions take toll

Fung Cheung Kee Holdings posted a net loss for the year to March 31 of $17.18 million, after making provisions of $11.3 million for the decline in value of its quarry and hotel investments in the mainland. Turnover fell to $552.92 million from $556.44 million. Losses per share were 4.3 cents, against earnings per share of 0.23 cent previously. Directors did not declare a final dividend.