HKG:2425

AustAsia Group Forecasts Swing to H1 Profit

Dairy farmer AustAsia Group (HKG:2425) expects an attributable profit of between 90 million yuan and 130 million yuan for the six months ended June 30, compared with an attributable loss of 377.8 million yuan a year prior.The company attributed the forecast to enhanced farming operational efficiency and a higher average selling price of beef cattle, as well as a narrower loss from changes in fair value less costs to sell of other biological assets, according to a Monday Hong Kong bourse filing.