Cathay Group Holdings forecasts profit turnaround

Cathay Group Holdings Inc. (HKEX: 1981) has announced a positive profit alert, projecting a consolidated profit of at least RMB100 million for the reporting period ending December 31, 2024. This marks a notable turnaround from a consolidated loss of RMB181.1 million in 2023. The company attributes the anticipated profit to reduced impairment losses within its TV/film production and investment segments, coupled with increased revenue from its higher education and vocational training businesses. The announcement cautions that the financial results are preliminary and based on unaudited management accounts. Final results are expected to be published on March 28, 2025. Shareholders and potential investors are advised to exercise caution when dealing in the company's shares.