Retail investment company Portico International Holdings has turned around from its loss in 2015 with expectations of a profit for last year.

The turnaround is a sound endorsement of a new store format announced in late 2015 which it believed was “the way of the future”. Portico, formerly Ports, operates more than 300 fashion stores in Hong Kong, Mainland China, the US and Canada.

The profit prediction is based on a preliminary assessment by its board and management of its trading for the period to December 31.

In a positive profit warning issued to the stock exchange, chairman Alfred Chan says the board considers that turnaround is mainly attributable to an increase in revenue.

The company expects to announce its consolidated annual results for the year on or around March 30.