CNQC International Forecasts Profitable Turnaround

CNQC International Holdings Limited (HK:1240) has released an update.

CNQC International Holdings Limited has announced a positive profit alert, expecting a turnaround from a HK$147 million loss to a profit ranging between HK$15 million to HK$25 million for the first half of 2024. This promising financial rebound is primarily due to an improved gross profit margin in its Singapore construction segment and reduced finance costs associated with lower group borrowings. Investors are reminded to approach the company’s upcoming detailed interim results with caution as they await the official report by the end of August 2024.

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