Hi-P International now expects higher, not lower, profit for Q3

MOULD maker Hi-P International on Wednesday issued a revised profit guidance announcement for its Q3 2016 results.

It now expects to report a higher year-on-year profit for the quarter, instead of a lower profit as previously guided in August.

"The difference between our previous expectation and the unaudited profit in Q3 2016 is mainly due to tighter cost controls, improvement in production efficiency and higher sales," said Hi-P International.

Its full results will be announced before the opening of trading on Nov 4.