Kingboard Holding's H1 Profit Falls by More Than Half; Shares Down 5%

MT Newswires · 08/29/2022 15:14

03:13 AM EDT, 08/29/2022 (MT Newswires) -- Kingboard Holding's (HKG:0148) first-half attributable halved from a year ago as the printed circuit board maker incurred credit impairment losses during the period, according to a Monday stock filing.

Attributable profit for the six months through June 30 fell to HK$2.41 billion ($307.1 million), or HK$2.173 per diluted share, from HK$5.06 billion, or HK$4.569 per share, a year ago.

Revenue inched higher to HK$27.83 billion from HK$26.70 billion a year earlier.

The company incurred impairment losses on debt instruments of HK$1.58 billion during the period.

Kingboard declared a dividend of HK$0.30 per share, payable on Jan. 6, 2023, to shareholders as of Dec. 9.

Shares dropped nearly 5% in Monday's afternoon trading.

Price (HKD): $21.80, Change: $-1.05, Percent Change: -4.60%

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