TVB lessens interim loss by 24.5pc to $108m ahead of full-year profit expectations

Television Broadcasts (0511) reported a narrowed first-half net loss of HK$108 million, down 24.5 percent from a year earlier, and said it expects to return to profit for the full year.

Interim revenue was stable at HK$1.5 billion, down 1 percent year-on-year.

Excluding e-commerce operations, core TV-related revenue increased 1 percent to HK$1.45 billion, supported by a 4 percent rise in income from advertisers in the TV Broadcasting segment and 9 percent growth in its digital media division.

Revenue from advertisers on terrestrial TV channels was supported by strong demand from blue-chip corporate clients, while its newly launched Greater Bay Area ‘B-roll’ advertising product posted a 171 percent increase in revenue during the period, the company said in an exchange filing.

Revenue from mainland China operations fell 8 percent year-on-year, mainly due to delays in project deliveries under co-productions with platform partners.

STAFF REPORTER