Hong Kong’s political and economic situation has been chaotic for over seven months now, but Credit Intelligence (ASX:CI1) has had a win because of it.

The debt restructuring company promised shareholders the crisis could be a good thing for the company early on. Last August its said, “The current circumstance in Hong Kong could result in an increase in bankruptcies and Individual Voluntary Administration (IVA) in coming years.”

And true to its word, Credit Intelligence reported today a big jump in revenue and profit after tax for the second half of 2019.

Revenue came in at $5.3m, 90 per cent higher than the prior corresponding period, while profit after tax was over four times higher at $1.2m.

Specific Hong Kong results weren’t mentioned, but Credit Intelligence noted Hong Kong “continues to generate sustainable profits and positive cashflow for the CI1 group”.

The profit after tax for its two Singaporean entities, ICS Funding and Hup Hoe Credit, combined was $800,000 while revenue totalled $1.8m.

This morning Credit Intelligence shares gained 32 per cent. But a spike on Friday immediately prior to this news saw it double from last Wednesday’s price of 1.6c.

The company received a price and volume query on Friday which it responded to today with this news along with its previous announcements about its performance.


Read More: Corporate: Are you worried about the Hong Kong crisis? This company isn’t

In other ASX corporate news today:

Online retailer Kogan (ASX:KGN) also announced a strong half-yearly performance with Black Friday and Boxing Day being the best results in the company’s history. Gross sales were up by over 16 per cent and active customers reached nearly 1.7 million. However Kogan shares fell by over 20 per cent.

Semiconductor stock Pivotal Systems (ASX:PVS) announced half yearly revenues of $US7.3m ($10.6m). This gave it 2019 calendar year revenues of $US15.3m, nearly 25 per cent lower than the year before. Pivotal blamed the decline in the industry and revenue recognition being pushed to 2020.

Traffic technology play Redflex (ASX:RDF) announced a total contract value of $73m for the December quarter. Highlights included a $5.8m order from Highways England and a $25.4m order from the Los Angeles transport authority to provide automated enforcement services.