Hong Kong – Sinomax expects to make an after-tax profit of HK$50m ($6.4m) The Hong Kong-listed flexible foam company, with plants in China and the US, released the figures in a trading statement.
The company said its business had turned from an after-tax loss of HE$212m in 2019 thanks to a turn-around in performance of its US factory, cost savings in selling and general administrative expenses, and government subsidies.
Sinomax plans to issue full annual results at its AGM. This will be held on 21 March.
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