LITU HOLDINGS (01008) announces profit growth: It is expected that the company's owner's share of profit in 2024 will be approximately HK$66 million to HK$100 million, turning from loss to profit.

LITU HOLDINGS (01008) announced that the group is expected to have a net profit attributable to owners of the company of approximately HK$66 million to HK$100 million in 2024, while the net loss attributable to owners of the company was approximately HK$163.9 million in 2023. The announcement stated that the turnaround from a net loss to a net profit for owners of the company was mainly due to a decrease in impairment losses on investments in associates of approximately HK$66.4 million, a decrease in impairment losses on goodwill of approximately HK$92.7 million, and an increase in the group's gross profit, primarily attributed to the implementation of new cost control measures.