CNQC International Holdings (HKG:1240) expects a minimum attributable profit of HK$40 million for 2024, against an attributable loss of HK$490 million in 2023, a Friday bourse filing said.

The property developer attributed the expected turnaround to an increase in overall gross profit margins resulting from an increase in revenue, construction project and the optimization of construction costs, and a decrease in Finance and administrative expenses,

Shares closed over 1% lower on Friday.

Price (HKD): $0.17, Change: $-0.0020, Percent Change: -1.18%