HKG:0711

Asia Allied Infrastructure Expects Return to Full-Year Profit

Asia Allied Infrastructure (HKG:0711) expects to record a net profit attributable to shareholders of at least HK$120 million for the year ended March 31, compared with a net loss of about HK$274 million a year earlier, according to a Thursday Hong Kong bourse filing.The company attributed the turnaround to the absence of significant write-offs of contract assets related to certain projects that were recorded in the prior year, growth in its core businesses, normalization of construction operations, and lower finance costs.