Asia Tele-Net Expects Sharp Profit Decline

Asia Tele-Net and Technology Corp Ltd (HK:0679) has released an update.

Asia Tele-Net and Technology Corporation Limited warns of an expected significant drop in net profit after taxes for the six months ending June 2024, projecting HK$27 million to HK$33 million compared to HK$110 million in the same period last year. This decrease is attributed to lower reversal of impairment losses and reduced taxation expenses. Investors are cautioned to exercise care when dealing in the company’s shares, with finalized results to be announced on August 28, 2024.

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