Hong Kong gaming company LET Group released a profit forecast, expecting to turn losses into profits in the first half of 2022, from a loss of more than HK$3 million to a profit of more than HK$4 million. This is due to the reversal of impairment and the narrowing of losses of joint ventures.
According to LET Group, the profit attributable to shareholders for the first half of this year is expected to be approximately HK$4.51 million, compared with a loss of approximately HK$3.87 million in the same period last year.
The company's performance turned from loss to profit, mainly due to the reversal of impairment of loans and receivables to joint ventures, about HK$4.13 million. In addition, the loss of joint ventures narrowed compared with the same period last year, bringing investment income of about HK$1.24 million.
Thanks to the stimulus of the performance forecast, LET Group's stock price rose by nearly 3% against the market trend, reflecting the market's optimism about the company's prospects.
The following is LET Group's statement that the company is still implementing relevant data and expects to announce details of its audited interim results at the end of August. However, judging from the preview, the company's performance has improved significantly.
