SINGAPORE - The board of Asia Fashion Holdings has given an upbeat assessment of its upcoming results.

In a statement, the company said that despite recording a loss of 421 million yuan in 2013, an operating loss of 638,000 yuan in total comprehensive losses in the first quarter of this year, and an operating profit of 126,000 yuan in the subsequent quarter, it expects to post a significant increase in profitability as well as significantly higher operating profit for the third quarter, compared to the preceding quarters and financial year.

The significant improvement was mainly attributed to the consolidation of the financial results of China Construction Material (Hong Kong) and its subsidiaries.

Further details of Asia Fashion's financial performance will be disclosed when the company finalises its third quarter results on Nov 14.