PINE Technology Forecasts Remarkable Profit Turnaround

Pine Technology Holdings Limited (HK:1079) has released an update.

PINE Technology Holdings Limited has issued a positive profit alert, projecting a substantial turnaround with an expected net profit of not less than HK$40 million for FY2024, compared to a net loss of HK$107.6 million in the previous year. The anticipated profit is primarily due to increased revenue, reduced administrative expenses, no impairment losses, and gains from the disposal of subsidiaries. Investors are advised to exercise caution and await the fully reviewed financial results due on 26 September 2024.

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