HK-listed Impro Precision jumps most in 3-1/2 years on upbeat profit forecast

Impro Precision Industries

09/01/2023 05:32

** Shares of castings products producer Impro Precision
Industries Ltd  1286.HK  jump as much as 14.2% to HK$2.57
    ** Stock on track for its biggest daily pct rise since July
2019, if gains hold
    ** Stock hit the highest since Dec. 6 in its second session
of gain
    ** Co. expects to record net profit of HK$550 mln-600 mln
($70.5 mln-$76.9 mln) for 2022, up ~44%-57% from a year ago,
thanks to strong revenue growth in aerospace and medical
end-markets, expansion of operating profit margin  urn:newsml:reuters.com:*:nFWN33R2KR
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
2.2% and the Hang Seng Composite Index tracking industrials
 .HSCIIG  gains 1.2%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both rise 1.6%
($1 = 7.8061 Hong Kong dollars)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))