United Asia Group (00458) announced that the Group expects to record unaudited shareholders' profits of approximately HK$65 million to HK$85 million in the interim period, while recording a loss of HK$19.3 million for the corresponding period ending June 30, 2022.
According to the announcement, the sharp improvement in financial performance from loss to profit is mainly due to: 1) increased profits in the garment business; 2) decreased losses in the brand business.