19th Jun 2023 11:48
Univision Engineering Ltd - Hong Kong-based CCTV supplier - Says it swings to pretax loss of GBP256,000 in the six months ended 30 September 2022, from a profit of GBP142,000 in the same period the year prior. Revenue falls to GBP653,000 from GBP5.0 million the prior year. The company says this was due to the termination of its major contract with MTR Corporation Ltd, which was effective from June 20. The company says it is considering a number of financing methods to improve its liquidity following the collapse of revenue; obtaining a loan facility of HKD12 million - around GBP1.2 million - and a potential investor providing a standby unconditional facility of HK20 million. The company declares no interim dividend.
MTR is a Hong Kong-based government-owned public transport and property developer which operates the Mass Transit Railway.
"New infrastructure projects in Hong Kong including the new railway liens and urban development in northern territories. With the technical expertise and project experience in surveillance industry, the company has the competitive advantage to tender these projects," says Chair Stephen Sin Mo Koo.
Current share price: 0.25 pence
12-month change: down 16%
By Will Neill, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
UVEL.L