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SCMP Reporter

A HEFTY jump in profit saw the share price of Lam Soon Food Industries rise 24 cents or 18.4 per cent to close yesterday at $1.54.

  The stock was traded in the range of $1.30 to $1.58.

  The edible oils and detergent manufacturer and distributor reported a 1,293 per cent surge in profit to $472.4 million, swelled by the disposal of a property and shares in a Taiwan subsidiary.

  On a fully diluted basis, earnings per share rose 860 per cent to 96 cents.

  Another gainer yesterday was Tung Fong Hung Medicine, which put on seven cents, or 11.5 per cent, to 68 cents.

  A total of 11.8 million shares worth $7.9 million were traded.

  Late last month, the medicine group announced plans to raise $31 million through placement of 66.3 million new shares to Chan Kwok-hing.

  Mr Chan is not connected to the company.

  The new shares represents 15 per cent of the group's issued capital or 13 per cent of the enlarged capital.

  Champion Technology rebounded in heavy trading, with its share price rising four cents or 7.2 per cent to end at 59 cents.

  The performance of the stock was clouded by uncertainty over its paging business in China.

  Despite a 64 per cent increase in profit to $978 million, Yizheng Chemical Fibre fell five cents to $2.75 amid concerns over the possible placement of H shares by the company.

  Another H-share company, Luoyang Glass, also saw its share price off 20 cents, or 5.6 per cent, to $3.35 on the back of a four per cent drop in profit.

  The company reported a profit of 253.25 million yuan for the full year of 1994 due to a significant increase in tax.

  Earnings per share on a weighted average basis plunged 26.55 per cent to 0.484 yuan.

  Harbin Power bounced back, closing up 15 cents, or 7.1 per cent, to $2.25.

  The Hang Seng China Enterprises index rose 15 points, or 0.01 per cent, against 0.62 per cent jump in the main index.

  Overall, trading in small and medium-sized companies accounted for 26.8 per cent of total turnover of $2.23 billion.



Lam Soon shares up 18pc on profit leap