Univision H1 revenues slide

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.