Asia Allied Infrastructure Projects Significant Loss

Asia Allied Infrastructure Holdings Limited (HK:0711) has released an update.

Asia Allied Infrastructure Holdings Limited has issued a profit warning, forecasting a net loss of up to HK$270 million for the six months ending September 2024, a stark contrast to the HK$68 million profit in the same period last year. This downturn is primarily due to a write-off of contract assets and the absence of gains from asset disposals seen in the previous year. The company is taking measures to improve financial stability, including enhancing receivable collections and implementing cost control strategies.

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