Medicine retailer in net loss
Chinese medicine retailer Tung Fong Hung (Holdings) suffered a net loss of $387.48 million for the first six months to January, against a profit of $54.48 million in the same period previously. The loss was mainly attributable to associates, which incurred losses of $419.05 million, compared with a previous profit of $328,000. Operating losses were $53.85 million, against a profit of $33.92 million.
Net exceptional gains were $85.65 million including a $372.42 million gain on the sale of a key interest which was offset by a $125.35 million loss on properties, an $80 million provision and a $39.75 million loss on a deficit property revaluation. Loss per share was 10.7 cents, compared with earnings of 2.6 cents. Directors did not declare any interim dividend.