Cardboard boxes flat

PAPER packaging boxes manufacturer Hung Hing Printing Group reported a slight drop in its interim profit from last year's $50 million to $49.6 million, despite a 17 per cent surge in turnover.

Stripping off the $2.6 million provision for a drop in value of listed investments this year and a $4 million property disposal gain last year, Hung Hing should have had an eight per cent increase in profit.

Earnings per share dropped from 10.9 cents to 10.8 cents. An interim dividend of four cents was recommended, unchanged from last year.