Jinwu Financial News | International Entertainment (01009) issued an announcement that it is expected that the profit attributable to the owners of the company for the year ended June 30, 2023 will be not less than HK $15 million, and that in the same period in 2022, the owners of the company shall share a loss of HK $256 million, thus turning losses into profits.
According to the announcement, the expected turnaround is mainly due to (I) an increase in income from the Group's gaming and hotel business; and (ii) a fair value gain on investment property for the current year, compared with a fair value loss of approximately HK $121 million in the previous year.