EXTRAWELL PHAR (00858) announces that it is expected to achieve a mid-term profit of approximately HK$100 million to HK$105 million, turning a loss into a profit on a year-on-year basis.

EXTRAWELL PHAR (00858) has announced that the group is expected to achieve a profit of approximately HK$100 million to HK$105 million for the six months ending on September 30, 2024, compared to a loss for the same period ending on September 30, 2023. The expected turnaround from loss to profit for this period is mainly due to non-cash items, specifically income generated from fair value changes in financial assets recognized in the income statement, as opposed to losses from fair value changes in the same non-cash items for the corresponding period in 2023.