Chervon Expects Up to 33% Higher Profit in H1

MT Newswires Live07-17

Chervon Holdings (HKG:2285) expects net profit to reach about $60 million to $65 million for the six months ended June 30, a 22% to 33% increase from the $49 million profit recorded a year ago, according to a Tuesday filing on the Hong Kong bourse.

The company attributed the increase in profit to better point of sale and higher volume orders, more efficient production, and optimization of operating expenses. Raw materials costs and currency exchange rates also benefitted the company.

The electric tool supplier plans to publish the interim results before the end of August.

The company's stocks were up by over 13% in recent trading.

Price (HKD): $19.48, Change: $+1.78, Percent Change: +10.06%

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