IMAGI INT'L issues a profit warning, expecting a mid-term consolidated net profit of approximately HKD 4 million, turning a loss into a profit year-on-year
IMAGI INT'L expects a mid-term consolidated net profit of approximately HKD 4 million for the period ending June 30, 2025, turning around from a net loss of HKD 11 million in the same period last year. The main reasons for the turnaround are changes in impairment provisions for margin loans receivable and loans receivable, as well as the change in fair value of listed investments held for trading from unrealized losses to unrealized gains
According to the Zhitong Finance APP, IMAGI INT'L (00585) announced that the company expects to achieve an unaudited consolidated net profit of approximately HKD 4 million for the six months ending June 30, 2025. This represents an improvement compared to the unaudited consolidated net loss of approximately HKD 11 million for the same period ending June 30, 2024 (the previous period).
The announcement stated that the turnaround from loss to profit is mainly due to the reversal of impairment provisions for margin loans and receivables, whereas the previous period had impairment provisions; and the change in fair value of listed investments classified as held for trading, which shifted from unrealized losses in the previous period to unrealized gains in the current period
