Hong Kong Construction (Holdings) has reduced its loss to HK$72.9 million for the six months to June 30 from HK$367.4 million a year ago.
The company said the deficit was largely due to losses in associate companies. During the period under review, it recorded a HK$61.8 million share of losses from associates.
No interim dividend was paid. Losses per share were 14.4 HK cents compared with 72.8 HK cents a year ago. Turnover rose 9.13 per cent to HK$1.04 billion.
It said strategies were being implemented to reverse the situation, saying it believed the restructuring of assets would be completed this year, with positive implications for year-end results.
The mainland's accession to the World Trade Organisation was providing valuable opportunities for non-mainland construction companies, it said.
It would continue bidding for projects in Hong Kong and the mainland, especially construction contracts for large-scale mainland infrastructure schemes, where HK$20 billion worth were being pursued, it said.
