Cosmos Machinery Enterprises (HKG:0118) expects a profit of at least HK$12 million for the year 2024, compared with a loss of around HK$59.5 million a year prior, a Tuesday filing with the Hong Kong bourse said.
The machinery product manufacturer attributed the anticipated turnaround mainly to the absence of a non-recurring loss on the disposal of the printed circuit board processing business and an impairment loss on the carrying amount of goodwill of the printed circuit board trading business.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.