By Martin Mou

MTR Corp. posted a net loss for first half, citing the severe adverse impact from the Covid-19 pandemic on its businesses in Hong Kong.

Net loss was 334 million Hong Kong dollars (US$43.1 million), compared with net profit of HK$5.51 billion a year earlier, the Hong Kong railway operator said Thursday.

Revenue slumped 24% to HK$21.59 billion.

The loss in the first half was also caused by a loss from investment property revaluation, MTR said.

The company said its Hong Kong transport operations and station commercial and property rental businesses have taken a significant hit from the pandemic.

However, the company's financial position remains sound and it has plans to tender out new projects and start property presales, MTR said. 



  Write to Martin Mou at martin.mou@wsj.com