"Profit Alert" MAGNIFICENT expects mid-term net profit after tax to increase by more than 40% year-on-year

MAGNIFICENT (00201.HK) issued a profit warning, expecting that the net profit attributable to the company's owners for the interim period ending June 30, 2025, before tax and excluding revaluation and depreciation, will not be less than HKD 59 million, an increase of over 40% compared to approximately HKD 42 million in the same period last year. If revaluation and depreciation of approximately HKD 75 million are taken into account, the net loss attributable to the company's owners after tax and including revaluation and depreciation will not exceed HKD 16 million, narrowing from approximately HKD 32 million in the same period of 2024. MAGNIFICENT attributes this to the weak property market leading to a decline in non-cash property valuations