Summary by Futu AI
NWS Holdings Limited ('NWS Holdings') announced on August 5, 2024 that the attributable net profit of its shareholders for the financial year ended June 30, 2024 is expected to range from approximately HK$2 billion to HK$2.2 billion, an increase of not less than 33% compared to the financial year 2023 after adjusting for the re-measurement gain. The significant growth is mainly due to the substantial growth in insurance business, the transformation from loss to profit of facility management business, and the stable growth of road and logistics business. In addition, the reduction of allowance for impairment losses and one-off financial impact also contribute to the growth. However, the fair value loss on investment properties and the increase in financial expenses will partially offset these bullish factors. These predicted figures have not been audited by independent auditors, and final figures will be released at the end of September 2024. Company shareholders and potential investors should act with caution.