EPI (HOLDINGS) (00689) announced that compared to the profit of approximately HK$1 million achieved for the six months ended June 30, 2024 (first half of 2024), the group expects to achieve profit attributable to owners of the company of not less than HK$10 million for the first half of 2025.

The announcement stated that the profit increase was mainly due to the combined effects of: foreign exchange gains of approximately HK$8.1 million recognized in the first half of 2025 due to the appreciation of the Canadian dollar and New Zealand dollar against the Hong Kong dollar (first half of 2024: foreign exchange loss of HK$3.8 million); increased income tax expenses mainly related to oil exploration and production business to approximately HK$1.5 million (first half of 2024: HK$0.4 million); and recognition of professional fees of approximately HK$0.4 million related to the company's share reorganization and participation and operation agreements for oil exploration and production business (first half of 2024: nil).