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Astrum Financial forecasts 225.6% YOY rise in 9-month profit

Hong Kong's Astrum Financial Holdings Ltd. forecasts a 225.6% year-over-year increase in profit for the nine months ended Sept. 30.

The company expects to post a profit and total comprehensive income of HK$12.7 million for the nine-month period, up from HK$3.9 million in the same peiod the prior year, according to an Oct. 22 release.

The company attributed the expected increase mainly to the rise in revenue derived from placing and underwriting services for the period to HK$30.6 million from HK$8.0 million in the prior-year period.

Astrum Financial expects to release its nine-month earnings results in November.