Kin Shing Expects Return to Profit in Fiscal H1; Shares Up 8%

MT Newswires Live2024-11-27

Kin Shing Holdings (HKG:1630) expects a profit of about HK$9.5 million for the six months ended Sept. 30, compared with a loss of HK$6.5 million for the corresponding period of the previous year, according to a Tuesday filing with the Hong Kong bourse.

The company attributed the expected turnaround to an unrealized fair value gain on financial assets, interest income from time deposits, and dividend income in the trading and investment of about HK$19.7 million, compared with a loss of about HK$5.2 million in the same period last year.

The formwork services company plans to publish its interim results on Nov. 29.

The company's shares were up over 8% in the recent trading.

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