Univision sees 'solid' second half despite temporary Government ban

CCTV design and installation firm Univision received official confirmation from the Hong Kong Government Works Branch on Friday that its temporary suspension from tendering for public works contracts had been lifted, with immediate effect. 　

As a result of a "significant increase" in work with the MTR Corporation, Univision had been temporarily suspended from tendering for additional new government contracts by the Hong Kong Government Works Branch under the management of Electrical and Mechanical Services Department.

Chairman Stephen Koo said: "Whilst the effect of this temporary suspension had been insignificant given the group's current workload, especially with the MTRC contract, we are delighted to be in a position to tender for additional Government work once again.

"Given the MTRC contract, this has been a very busy period for Univision and we look forward to reporting our final results in August."

Univision also revealed that the progress it had reported at the time of its interim results had extended into the second half of the year.

Looking forward, the AIM-listed group said it had benefited, for the first time, from a full year's contribution from its MTRC contract and now expects to report revenues and profits "substantially ahead of last year".

As of 1315 BST, Univision shares had climbed 3.17% to 2.12p.