Crisis hits restaurant earnings

Restaurant operator United Power Investment reported an attributable loss of $23.36 million for the six months to September, compared with a profit of $5 million a year ago. It booked an exceptional loss of $10.52 million for the decrease in value of listed securities. The firm said its restaurant business had been hit by the recession, resulting in an operating loss of $4.82 million before the exceptional item. The loss per share was 3.1 cents, compared with earnings per share of 0.8 cents a year ago.

No interim dividend will be paid.