Hard market hits Yanion

Audio-cassette maker Yanion International Holdings saw first-half profit slump 71.85 per cent to $2.86 million because of a sluggish market and keen competition.

Earnings per share dived to three cents from 10.5 cents. Turnover fell 13.2 per cent to $189.86 million and operating profit dropped 31.9 per cent to $7.8 million. Its share of losses by associated companies soared to $3.51 million from $440,000. No interim dividend was recommended.