Hong Kong broadcaster TVB warns it will lose HK$200 million for 2018 financial year

The parent company of Hong Kong’s oldest television station issued a profit warning on Friday, saying it expects a HK$200 million (US$25.48 million) net loss for the financial year ending December 31, 2018.Television Broadcasts (TVB) said in a filing to the Hong Kong Stock Exchange after the close of trading it will write-off approximately HK$500 million on its holdings of SMI Bonds, issued by mainland theatre operator SMI Holdings Group.The expected HK$200 million loss compares to a HK$243…

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