Shun Wo Group (01591) opened high and rose after its profit announcement, rising nearly 50% at one point during the trading day. As of the time of publication, it has risen 30.43% to HKD 0.03, with a turnover of HKD 4.0315 million.
According to the news from the Zhongtong Finance APP, Shun Wo Group (01591) opened high and rose after its profit announcement, rising nearly 50% at one point during the trading day. As of the time of publication, it has risen 30.43% to HKD 0.03, with a turnover of HKD 4.0315 million.
On the news front, Shun Wo Group announced that it expects a net profit of approximately HKD 38-42 million for the year ending in late March this year, compared to a net profit of approximately HKD 18.9 million in the same period last year. The expected increase in net profit is mainly due to revenue growth and a substantial increase in gross profit due to a decrease in subcontractor costs and a decrease in direct material procurement caused by a number of large-scale foundation projects nearing completion during the period.