Chevron Holdings (HKG:2285) expects a net profit between $110 million and $120 million for the year 2024, against a net loss of $37.2 million logged in the preceding year, according to a Friday filing with the Hong Kong bourse.

The company attributed the increase in profitability to a 25% to 30% increase in revenue resulting from the end of the channel destocking cycle, improved performance of the company's flagship brand EGO, an increase in gross profit margins, and improved operational efficiency.