Univision H1 revenues slide

CCTV firm Univision said on Tuesday that had experienced a downturn in revenue for the six months ended 30 September but stated it was optimistic that its overall performance will improve in the second half of the trading year.

Univision turned a profit of £400,000 for the half, almost double the £210,000 recorded a year earlier despite revenues decreasing 19.3% to HK $39.9m (£3.8m) due primarily to the delay of the installation of key equipment.

While construction revenues declined and weighed on the group as a whole, maintenance revenues surged 23%.

Gross profit margin in the maintenance unit improved from 29% to 32%, while construction margins increased from 19% to 23%.

Administration expenses increased by 5.8% to HK $8.2m (£782,800) but finance costs were cut from HK $461,000 (£44,000) to HK $378,000 (£36,000).

As of 0925 GMT, Univision shares were up 2.86% at 1.08p.