Greenheart Group (00094) said it expects to turnaround and record an improvement in both consolidated profit after tax and the net profit attributable to the shareholders for the financial year ended 31 December 2017 as compared to the previous financial year.
Such estimated improvement in results was mainly attributable to a substantial fair value gain on the New Zealand plantation forest assets of about HK$130.8 million for 2017 (2016: HK$65.11 million), as a result of the increased forecasted selling price, reflecting the strong demand of New Zealand raditata pine; and enhanced operating profits for 2017 due to the improved market conditions in global wood industry, particularly in China and the concerted efforts to reduce the operating costs and strengthen the operation efficiency.
Its annual results announcement is expected to be published on 27 March.
23/03/2018 14:25
Greenheart Group (0094) sees turnaround to profit for FY2017
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