Hutchison China MediTech halves first-half operating profit

Hutchison China MediTech (LSE: HCM) on Tuesday reported that it had nearly halved its first-half 2015 operating profit.

Operating profit from continuing operations nearly halved to $4.6 million from $8.1 million a year ago. Overall, net profit on continuing operations also dropped nearly 50% to $2.3 million from $5.6 million.

The company reported revenue of $65.7 million, up 117% in the first half boosted by the integration of its Hutchison Sinopharm business.