Cathay Media and Education Group (HKG:1981) expects a net profit of about 50.0 million yuan for the six months ended June 30, compared to a loss of about 109.9 million yuan for the previous year, according to a Thursday filing on the Hong Kong bourse.
The company attributed the expected turnaround from loss to profit to the decreased impairment losses and inventory write-downs.
The television and film production business company plans to publish its interim results on Aug. 29.
The company's shares were down by 12% in recent trading.
Price (HKD): $0.66, Change: $-0.090, Percent Change: -12.00%
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