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Transmit Entertainment Expects Higher FY22 Net Loss

MT Newswires ·  {{timeTz}}

03:12 AM EDT, 09/15/2022 (MT Newswires) -- Transmit Entertainment (HKG:1326) expects its net loss for the year through June 30 to widen to between HK$90 million and HK$100 million ($11.5 million and $12.7 million) from HK$7.6 million a year ago, according to a Thursday bourse filing.

The higher loss is mainly due to delays in the production of television series and variety shows due to COVID-19 protocols that led to a HK$68 million provision for impairments, and a decline in the revenue from the company's artist management business.

The entertainment company plans to release full-year results by the end of September.

Price (HKD): $0.10, Change: $0.00, Percent Change: -1.03%

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