Modern Innovative Digital Technology Swings to Fiscal H1 Loss

MT Newswires Live12-02

Modern Innovative Digital Technology (HKG:2322) incurred an attributable loss of HK$30.7 million for the six months ended Sept. 30, compared with an attributable profit of HK$4.4 million in the year-ago period, a Nov. 29 bourse filing said.

Loss per share in the interim period was HK$0.0074, versus earnings per share of HK$0.0011 in the corresponding period of the last fiscal year.

The food and electronic product company's revenue fell to HK$35.6 million in the first fiscal half from HK$88 million a year prior.

The company attributed the swing to loss mainly to a substantial decline in gains on changes in fair value of held-for-trading investments, as well as a rise in administrative expenses.

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