Tung Fong sees reduced loss

Chinese medicine retailer Tung Fong Hung (Holdings) has reported a $29.31 million net loss for the six months to September 30, compared with a $387.48 million loss for the six months to January 31. The company has changed its financial year-end from July to March. During the six months under review, there was a $16.08 million exceptional loss - provision for devaluation of property interests and bad debts - compared with an $85.65 million exceptional gain last year. Share of losses of associated firms was $791,000 against $419.05 million previously.