I-Control (HKG:1402) expects a net profit of up to HK$1 million for the year ended March 31, compared with a net loss of HK$18.8 million a year prior, according to a Friday filing with the Hong Kong bourse.
The IT service management company attributed the forecast to a lower impairment loss on a loan to an investee, a drop in staff costs and other operating expenses, and the disposal of loss-making units.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.