Business Digest
Dragonair passenger and cargo volumes rise
Hong Kong Dragon Airlines moved more than 444,000 passengers across its regional network last month, up 10.4 per cent year on year, after travel volumes rebounded from a post-Lunar New Year lull.
The boom helped push the carrier's passenger numbers past the 1.23 million mark in the first three months, up a comparative 10.7 per cent.
Dragonair's cargo volumes grew 6.6 per cent for the month to 36,262 tonnes after expanding its carrying capacity 21.9 per cent, indicating that yields, a key measure of profitability for the sector, would have come under strong pressure.Russell Barling
brokers penalised for unlicensed dealing
The Securities and Futures Commission has co-operated with the Hong Kong Monetary Authority for the first time to jointly penalise a securities firm and three brokers for unlicensed futures dealing.
Wing Lung Futures has been fined $900,000 while Ho Po Hung and Chow Lai Him, brokers with Wing Lung Securities, had their licences suspended for six months and eight months, respectively.
A third Wing Lung Securities broker, Tam Po Chiu, was given a reprimand for his role in breaching the Securities Futures Ordinance and the Banking Ordinance.
As part of the settlement, each of the three brokers pleaded guilty at Eastern Magistracy yesterday to charges of unlicensed dealing and aiding and abetting unlicensed dealing.
They were convicted but given absolute discharges without penalty by the magistrate, Ian Candy. Charis Yau
Strong advertising sales boost sohu.com profit
Mainland internet portal Sohu.com yesterday said strong advertising revenue and the rebound of mobile value-added services usage helped raise first-quarter net profit 5.2 per cent to US$6 million over a year ago. Revenue increased 32 per cent to US$31.3 million. Advertising revenue was US$20.1 million, up 35 per cent over last year, although it was a slight 1 per cent growth over the previous quarter.
'The company performed well as the advertising market is strong, thanks to China's economy,' said an analyst at a European brokerage. Frederick Yeung
tsingtao posts 8.6pc growth in earnings
Tsingtao Brewery's net profit in the first quarter rose 8.69 per cent to 74.91 million yuan from 68.91 million yuan a year ago.
Revenue was up 17.82 per cent to 2.39 billion yuan. Operating profit jumped 42.58 per cent to 147.36 million yuan.
The gross margin of the company's beer operations was 31.69 per cent.
The company sold 8.69 million hectolitres of beer during the period, up 15 per cent, with sales of the principal brand growing 19 per cent to account for 3.13 million hectolitres.Charis Yau
