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Emperor Group arms chalk up massive losses in first half

The four listed companies under the Emperor Group all made losses in the first half to September. Emperor International Holdings (EIHL) made a net loss of $95.9 million after a $240 million provision for property devaluation. Turnover tumbled 58 per cent to $338 million. Basic loss per share was 24.49 cents, compared with earnings per share of 18.23 cents. No interim dividend was declared compared with a 1.38 cent payout previously. Emperor (China Concept) Investments saw its net loss balloon to $39.1 million from $25.6 million. Loss per share was 1.42 cents, against 1.45 cents earlier. No interim dividend is being paid.

Hong Kong Daily News made a net loss of $37.2 million, up from $32.9 million. Loss per share was 1.79 cents compared with 2.06 cents. No interim dividend is being paid. Capital Asia, an EIHL associate, made a net loss of $8.7 million compared with a profit of $14.5 million in the year-earlier period. Basic loss per share was 0.62 cents compared with earnings of 1.33 cents. No interim dividend is being paid.

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