Hong Kong Technology Venture Expects to Swing to Loss in H1

MT Newswires Live08-19

Hong Kong Technology Venture (HKG:1137) expects a loss of about HK$25.0 million to HK$30.0 million for the six months ended June 30, compared with a profit of about HK$48.7 million for the previous year, according to a Friday filing on the Hong Kong bourse.

The company attributed the expected loss to the start-up EBITDA losses for new projects, valuation losses on investment properties, and an increase in depreciation and amortization of intangible assets.

The multimedia business company plans to publish its interim results by Friday.

The company's shares were down by over 1% in the recent trading.

Price (HKD): $1.67, Change: $-0.040, Percent Change: -2.34%

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