Green energy infrastructure services provider Envision Greenwise Holdings Ltd. (1783.HK) said on Thursday that it swung to a profit in its latest fiscal year through March, reversing a loss in the previous year, citing strong growth for its reverse supply chain management services.
The company said it expects to report a net profit of between HK$58 million ($7.4 million) and HK$63 million for its fiscal year ended on March 31, compared with a loss of HK$15.7 million in the previous year.
The company said its reverse supply chain management and environmental related service segment posted an increase of more than HK$1.5 billion during its most recent fiscal year compared with the previous year. It also cited a HK$35 million decrease in equity-settled share-based payment expenses for the improvement to its bottom line.
Envision Greenwise’s stock was up 3.7% at HK$4.44 midway through the trading day on Friday. The stock is up about 38% this year.
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