HONG KONG—Sinomax, a listed flexible foam company with operations in the U.S., Vietnam and mainland China, expects first-half profits to be about $1.3 million. This compares to a loss of $43.6 million in the same period last year.
"The expected turnaround was primarily attributable to the recovery of the group's business activities, and the rebounding of sales to a level comparable with that before the coronavirus outbreak," the company said in an earnings statement.
Sinomax plans to publish its full half year figures by the end of August.