PT International Development (HKG:0372) expects to post a loss of no less than HK$30 million for the six months ended Sept. 30, narrowing from a HK$48 million loss a year earlier, according to a Monday Hong Kong bourse filing.

Shares of the firm were down nearly 7% in Tuesday afternoon trade.

The company attributed the reduced fiscal first-half loss to higher equity brokerage income, which lifted gross profit, and smaller unrealised fair value losses on its investment in the AFC Mercury Fund.

The period also lacked last year's one-off gain of about HK$16 million from the deconsolidation of a subsidiary, it said.