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.