HKET warns of full-year net profit drop

Business | 29 May 2020 6:50 pm

Local media operator Hong Kong Economic Times Holdings (0423) warned that its net profit for the year ended March 31 could plunge by 85 percent in a weak economy.

The decline is mainly due to poor economic environment and the severe disruptions and extreme market and operating conditions caused by the Covid-19 pandemic on the group's business and the continuous social unrest since mid-2019, it said in a statement.

Shares of the group dipped by 0.96 percent to HK$1.03.

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