Leadway Technology Investment Group (HKG:2086) forecasts it will record a profit of about HK$2.1 million in the half-year ended June 30, versus a loss of HK$4.4 million in the year-ago period, according to a Friday filing with the Hong Kong Stock Exchange.
The expected turnaround is attributable to higher revenue from an increase in orders, lower staff expenses following a reduction in personnel, and a decline in other operating expenses, the smart card manufacturer said.
The company's shares were down 18% in recent trade.
Price (HKD): $0.53, Change: $-0.12, Percent Change: -18.46%
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