Zipper manufacturer Gilston Group (HKG:2011) expects a net profit of between HK$20 and HK$35 million for 2024, compared with a net loss of HK$69 million a year ago, according to its Tuesday Hong Kong bourse filing.

The profits are primarily driven by a full year of revenue from its property management business and the absence of significant impairment loss at its zipper business.

The unaudited figures remain subject to adjustment as the group finalizes its annual results, expected to be published by the end of March.

Gilston Group's shares gained more than 3% at market close.

Price (HKD): $1.28, Change: $+0.040, Percent Change: +3.23%