Management Game teams post profits

PUBLISHED : Monday, 27 June, 1994, 12:00am
UPDATED : Monday, 27 June, 1994, 12:00am

ALL teams taking part in the Management Game posted handsome profits in Period 3, according to the organiser, the Hong Kong Management Assocation.

The top performing team achieved a record profit of $11 million while six others attained more than $8 million. The teams made an average profit of $7 million.

The teams secured average orders of 157,916 units of Product AW, 89,744 units of Product AI and 215,420 units of Product DI. They invested, on average, $1.68 million in marketing and $1.12 million in product development.

All teams placed a tender for Product DC and the successful bid ranged from $57 to $88.

At the end of the period, four teams ran out of stock for both products while seven other teams were left with no finished stock.

Half of the teams bought plant, ranging from 10 to 30, to make up for depreciation and for future expansion.

All but two teams issued additional shares to raise working capital. On average, teams raised $7.75 million from the market.

The game is sponsored by Arthur Andersen & Co, ICL (HK) and the South China Morning Post.