WAI YUEN TONG (00897) reports a profit increase, with the expected mid-term net profit attributable to the owners of the company increasing by not less than HK$20 million year-on-year.

WAI YUEN TONG (00897) announced that the Group expects the profit attributable to owners of the Company for the six months ended on September 30, 2023 to increase to approximately HK$3.5 million (including a loss attributable to owners of the Company from discontinued operations of approximately HK$8.9 million), compared to the previous period. The profit for the six months ended on September 30, 2024 is expected to be not less than HK$20 million. The increase in profit is mainly due to fair value gains on investment properties owned, reversal of impairment losses on property, plant, and equipment projects, and the absence of losses attributable to owners of the Company from discontinued operations.