Zhongtian International Limited (02379) said the profit attributable to equity holders of the company for the six months ended 30 June 2019 is expected to record a significant increase by over 400% as compared with that of the same period of 2018.
Such expected increase was mainly due to (i) the recognition of revenue in respect of the compensation arising from government expropriation of part of the land located in Qingdao, the PRC held by the group; and the reversal of tax involved in that expropriated land as a result of the earlier provision.
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