SEM Holdings (HKG:9929) expects a net profit of up to HK$300,000 in the first half of 2025, compared with a net loss of HK$7.4 million a year prior, a late Thursday Hong Kong bourse filing said.

Shares of the maintenance engineering works contractor were down over 5% in Friday afternoon trading.

The firm attributed the forecast to a rise in gross profit margins and the reversal of impairment losses under the expected credit loss model.