According to the Zhitong Finance App, HPC Holdings (01742) announced that the Group expects profit after tax to increase significantly from the audited results for the year ended October 31, 2022 by about SGD 2.5 million to SGD 3.5 million, from a loss of approximately SGD 424,000 for the year ended October 31, 2022 to a profit after tax of approximately SGD 3.1 million for the year ended October 31, 2023.
The significant increase in profit expectations after tax is mainly due to a surge in earnings due to the timely completion of a number of tight projects; the Group strives to further streamline its business and improve cost control measures; and a more stable and predictable market makes bid prices more certain.