It hasn't been a good week for some companies with profit guidance and weak results being announced this week.
However, most would not have been surprising, having already talked about what would most likely not do well.
Picture as per 5 July post
Hospitality Sector
CDL Hospitality Real Estate Investment Trust
- Guided a total return being marginal loss.
- Has not done any revaluation yet as revaluations are done at the end of the year
- However given the trend, it is expected that negative revaluations be seen as the price per room is actually used in its Australia's Hotels.
With lack of demand this will drive prices down and create a negative revaluation. Furthermore, recent cash flows being affected would have affected the valuation model as well and revalue all its hotels.
Global Travel Related Sectors
SIA Engineering
-Recorded a profit of 10.7 million in 1st Quarter 2020 (April to June)
-However this was largely aided by the Jobs Support Scheme which without it would have created a 36.7 million loss....