Zhitong Financial APP News, Australia Holdings (09929) issued an announcement that the group is expected to make a net profit of about 4.5 million patacas for the six months ended June 30, 2023, compared with a net loss of about 1.4 million patacas for the six months ended June 30, 2022.
According to the announcement, the expected turnaround is mainly due to an increase in the Group's gross profit margin for the six months ended June 30, 2023 compared with the six months ended June 30, 2022, and due to the recovery of long-outstanding trade accounts receivable, resulting in the reversal of impairment losses under the expected credit loss model.