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Hong Kong's Somerley Capital expects YOY rise in fiscal 9-month profit

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Hong Kong's Somerley Capital expects YOY rise in fiscal 9-month profit

Hong Kong-based Somerley Capital Holdings Ltd. expects to report a year-over-year increase for the fiscal nine months ended Dec. 31, 2018.

The company said Jan. 9 that it expects not less than a 100% increase in after-tax profit and at least a 25% rise in revenue. The company reported after-tax profit of HK$4.3 million in the prior-year period and revenue of approximately HK$53.7 million.

The expected increases are primarily attributable to the completion of another substantial financial advisory engagement during the nine-month period.

The company's nine-month results are expected to be released in mid-February.