FIT Hon Teng Eyes Profit Rebound and Potential Acquisition

FIT Hon Teng Limited (HK:6088) has released an update.

FIT Hon Teng Limited has issued a positive profit alert, announcing an expected net profit of US$28 million to US$33 million for the first half of 2024, a significant turnaround from the net loss of US$9 million in the same period last year. This rebound is attributed to improved management and a recovering demand in computing and networking markets. Additionally, the company is in ongoing negotiations to potentially acquire assets in the automotive business, which may lead to a discloseable transaction.

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