HC Group records loss in first half

Hong Kong, 28th August: Hong Kong-listed HC Group has released its interim results for the six months ended 30th June 2019. The company’s revenues grew 87% in the period, reaching US$1 billion. However, the company posted a loss of US$24 million in the first half, compared with a profit of US$29 million in the first half of 2018.

The company attributed the loss to: (i) investment in new businesses; (ii) an increase in expenses and financing costs; (iii) writing off of goodwill on some assets; and (iv) decrease in investment income.