"Profit Alert" WAN KEI GROUP forecasts a half-year profit of at least 1 million yuan

WAN KEI GROUP (01718.HK) issued a profit warning, expecting a net profit of no less than HKD 1 million for the six months ending in September, compared to a loss of HKD 11.74 million in the same period last year. The turnaround from loss to profit is mainly due to a large-scale foundation construction project with a higher gross profit margin during the period; a reduction in general and administrative expenses; a fair value gain of approximately HKD 1.34 million on financial assets; and the recognition of approximately HKD 990,000 from the sale of subsidiary income