BUZZ-Alibaba Pictures slides after lower H1 profit
Reuters11-21 11:39
** Shares of Alibaba Pictures Group Ltd fall 7.4% to HK$0.44, their lowest since Oct. 18; set to snap two consecutive sessions of gains
** Stock on course for biggest one-day pct decline since Oct. 15
** Alibaba-backed movie distribution group says H1 net profit for six-months ended Sept fell 27% Y/Y to 336.6 mln yuan ($46.48 mln)
** "The decline in both box office and the number of viewers has left movie studios facing a more complicated profitability dilemma" - Co
** Hang Seng Commerce & Industry Index gains 0.1%, while Hang Seng Tech Index eases 0.5% and Hang Seng Index slips 0.1%
** Stock down 1% YTD
($1 = 7.2423 Chinese yuan renminbi)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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