Shandong Molong Petroleum Machinery (HKG:0568, SHE:002490) expects an attributable profit of between 145 million yuan and 180 million yuan for the six months ended June 30, as compared to a 158.2 million loss a year prior, a Tuesday bourse filing stated.
The petroleum machinery manufacturer attributed the anticipated turnaround to profit mainly to the disposal of a majority stake in two companies and strict cost control measures.
Hong Kong-listed shares of the company closed over 4% lower on Tuesday.
Price (HKD): $0.85, Change: $-0.04, Percent Change: -4.49%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments