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FINWIRES

Lotus Horizon Swings to Full-Year Loss

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Lotus Horizon (HKG:6063) recorded a loss of HK$3.3 million for the year ended March 31, compared with a profit of HK$3.2 million a year prior, according to a Tuesday Hong Kong bourse filing.

Shares of the construction engineering services company were up over 8% in Wednesday afternoon trading.

Basic loss per share was HK$0.17, whereas the company had seen a basic EPS of HK$0.16 in the previous fiscal year.

Revenue slipped 13% to HK$226 million from HK$259.8 million previously, mainly due to slower construction progress of certain key projects.

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