Sun Art Retail Group (HKG:6808) expects a net profit of about 150 million yuan to 200 million yuan in the six months ended September 30, compared to the loss of about 378 million yuan in the previous year, according to a Tuesday filing on the Hong Kong bourse.
The company attributed the expected net profit to the stabilized same-store customer traffic, positive sales growth, and cost reduction and efficiency enhancement initiatives.
The company's shares were up 15% on Wednesday's close.
Price (HKD): $2.06, Change: $+0.27, Percent Change: +15.08%
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