Red Star Macalline Group (HKG:1528) said it expects to post a net profit attributable to shareholders of between 13 million yuan and 20 million yuan, compared with a loss of 1.95 billion yuan a year ago.

The home decor company attributed the forecast to improved occupancy rates at its shopping malls and lower period expenses following cost-reduction measures, according to a Hong Kong bourse filing on Tuesday. The company said it will disclose its financial results in mid-to-late August.

Shares of the company jumped nearly 5% in recent trade.