Digital Domain Holdings, the Hong Kong-listed visual effects group, shifted from profit to loss in 2015 following the discontinuation of its scrap metals business.
DDH revenue fell from US$110 million (HK$850 million) in 2014 to US$68.0 million (HK$527 million) in 2015. Net losses of US$23.2 million (HK$180 million) replaced profits of US$4.32 million (HK$33.5 million.)
The group, which owns 70% of Digital Domain 3.0, saw almost unchanged revenues of US$67.3 million (HK$522 million) at its media and entertainment services business. But the segment’s losses climbed from US$4.64 million (HK$36 million) to US$10.1 million (HK$78 million.)
The group plowed ahead with the acquisition of The Immersive Group, a 360 digital video company, and after the year end bought a Hong Kong-based post-production company from movie star Nicholas Tse.