CNT logs profit growth of 77pc

CNT Group has reported a 77 per cent jump in attributable profit to $110.4 million for the year ended December 31.

Basic earnings per share were 9.58 cents, compared with 5.39 cents for 1993.

The directors have recommended a total dividend of 3.5 cents per share, against 2.1 cents in the previous year.

Operating profit was up 49 per cent to $112 million after making a gain on disposal of an investment property.

The group's turnover was $1.22 billion, compared with $711 million previously.

Chairman Tsui Tsin-tong said the group achieved a significant comeback from 1993, when structural changes, including relocation of manufacturing operations to China and expansion of the bus operation, adversely affected profits.