Tomson Group (HKG:0258) forecasts its consolidated profit to surge 310% to 320% year over year from HK$42.7 million in 2023, according to a Thursday filing with the Hong Kong bourse.

The foreseen surge is attributable to its property development and investment business in Shanghai, the filing said.

The residential property manager also logged an unrealized revaluation surplus on investment properties due to market valuation.

Tomson plans to release full-year results by the end of March.