Summit Ascent Projects Profit Turnaround

Summit Ascent Holdings (DE:ION2) has released an update.

Summit Ascent Holdings Limited has released a positive profit alert indicating an expected profit of HK$5.8 million for the first half of 2024, a significant turnaround from the HK$16.1 million loss in the same period of 2023. The improvement is credited to increased gaming and hotel revenues, reduced exchange losses due to the Russian Ruble, and lower depreciation costs. However, the company’s shares will continue to be suspended from trading until it meets the Stock Exchange’s resumption guidance and addresses the issues that led to the suspension.

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