STOCKS | Hypebeast Expects FY Pretax Profit of at Least $13 Million, Swings From Loss

Hypebeast (0150) issued a profit alert, expecting to swing to profit for the year ended March 31 with pretax profit of no less than $13 million. according to Ming Pao, it posted a pretax loss of $22.3 million a year earlier. The company attributed the turnaround mainly to lower sales and marketing expenses and reduced administrative and operating expenses, citing ongoing efficiency improvements and strict cost controls.