Neo-Neon Holdings, the world's largest decorative lighting business, aims to increase investment in light-emitting diode (LED) production after high demand boosted first-half earnings.
The Kowloon-based firm yesterday reported that interim net profit climbed 134.8 per cent to HK$99.3 million, from HK$42.3 million a year earlier, mainly owing to strong global sales of energy-efficient lighting products and improved performance at its chips and packaging plants.
Total turnover reached HK$730.1 million, up 31.7 per cent from HK$554.3 million, owing to healthy demand in several large markets, including the mainland, the United States and Russia.
Gross profit margin grew to 33.1 per cent from 28.9 per cent the previous year.
Sales of LED decorative lighting rose 28.1 per cent year on year to HK$354.5 million, making up 48.5 per cent of Neo-Neon's first-half revenue.
The firm's LED-based general lighting sales rose 228.5 per cent year on year to HK$165.5 million, or 22.7 per cent of turnover, as the 'green' products are adopted in streetlighting projects across the mainland.