CWT International Expects H1 Profit to Nearly Double; Shares Gain 4%
MT Newswires Live
Aug 14
CWT International (HKG:0521) expects to post profit after tax of at least HK$270 million for the six months ended June 30, up 99% or more from HK$136 million a year earlier, it said in a Wednesday Hong Kong bourse filing.
Shares of the logistics services provider gained nearly 4% in Thursday late-morning trade.
The company attributed the expected increase to stronger performance in its commodity marketing segment, driven by higher premiums and improved margins in its concentrates portfolio, as well as a tax credit recognised in the logistics services segment.
Interim results are due on or before Aug. 31.
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