Imagi International Holdings (HKG:0585) expects net profit of about HK$4 million for the six months ended June 30, reversing a HK$11 million loss in the prior year period, according to a Tuesday Hong Kong bourse filing.
Shares of the securities and brokerage firm were down nearly 7% in late-morning Wednesday trade.
The expected turnaround is attributed to a reversal of impairment allowances on margin and other loans, and a shift from unrealized losses to unrealized gains on held-for-trading listed investments.
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