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SCMP Reporter

Paul Y-ITC Construction Holdings has announced a 27 per cent rise in net profit to $132 million for the six months to September 30, against $104.16 million a year earlier.

  Turnover rose 36.9 per cent to $2.81 billion from $2.05 billion.

  Total operating profit fell slightly to $112.4 million from $117.27 million.

  Profit from associated companies jumped to $44.98 million from $5.63 million.

  Basic earnings per share were 14.2 cents against 12.5 previously, while fully diluted earnings per share were 12.2 cents against 9.9.

  An interim dividend of four cents was declared.

Rockapetta Holdings fell into the red at the interim, posting a loss of $17.6 million.

  The attributable loss for the six months to September 30 followed a net profit of $5.6 million a year earlier.

  The toy-maker posted an operating loss of $17.6 million against a $5.5 million profit previously.

  Turnover was $102.8 million, a 5.8 per cent rise from $97.1 million previously.

  Loss per share was 7.34 cents against earnings of 2.37 cents.

  Shareholders will not receive an interim dividend. None was paid a year earlier.

 Pam & Frank International Holdings has announced a 27.31 per cent fall in attributable profit to $18.38 million for the six months to September 30.

  Turnover increased about 3 per cent to $481.38 because of the sluggish retail sector. No interim dividend was announced.

 City Chiu Chow recorded an attributable loss of $9 million for the six months to September 30, against an attributable profit of $ 5.8 million a year earlier.

  Turnover increased 0.48 per cent to $234 million in the period.

  No dividend was declared.

 Idea Pacific Holdings, a sea-freight carrier, announced a slight increase in interim profit on the rapid development of container traffic on the mainland.

  The company posted attributable profit of $35.6 million for the six months to September 30, up 3.7 per cent on $34.3 million a year earlier.

  Turnover rose 9.5 per cent to $291.6 million. Earnings per share were 8.7 cents, down 22.3 per cent from 11.2 previously. No interim dividend was announced.

   Business in non-vessel-operating common carriers and vessel-operating common carriers reported 9.6 and 15.5 per cent growth, respectively.

 Iwai's International Holdings announced a 99.88 per cent fall in net profit to $9,000 for the six months to September 30 from $7.67 million a year earlier.

  The fashion retailer's turnover fell to $53.14 million from $58.52 million while operating profit tumbled 99.9 per cent to $11,000 from $9.07 million.

  Earnings per share were nil and directors did not declare an interim dividend.

 Kong Wah Holdings reported a 42 per cent drop in interim profit.

  Attributable profit for the six months to September 30 was $55 million against $94.5 million previously.

  Turnover edged up 2.2 per cent to $1.73 billion from $1.7 billion.

  Earnings per share fell to 3.62 cents from 8.83, a 59 per cent decline.

  Shareholders will not receive an interim dividend. None was paid a year earlier.

 Gilbert Holdings posted a 119.3 per cent rise in profit for the six months to September 30 to $12.5 million from $5.7 million a year earlier.

  The linen manufacturer and trader's results were compiled on a consolidated basis as though the current structure had been effective in previous corresponding periods.

  The company, listed two months ago, said turnover rose 112.2 per cent to $249.66 million from $117.63 million previously.

  Earnings per share were 4.8 cents. No figures were available for year-earlier period. No interim dividend was announced.

 Fung Cheung Kee recorded an attributable profit of $1.2 million for the six months to September 30, against an attributable loss of $1.5 million a year earlier.

  Turnover rose to $260.6 million from $81 million previously.

  No interim dividend was declared.

  Earnings per share were 0.3 cents against a loss per share of 0.4 cents previously.

  The company said it had reorganised the recognition of turnover and profit from long-term construction and other contracts in the period.

  The value of long-term projects was recognised on a proportional basis where the project architect showed at least 25 per cent of a project had been completed.

  One client had issued claims of about $15 million against Fung Cheung Kee over delays in the completion of construction contracts, but the company said about $7.4 million had been settled.

  No provision had been made for the remaining $7.6 million, the company said, because the final outcome had yet to be determined.

 South China Strategic recorded further losses for the six months ended September, which rose to $4.53 million from $2.49 million a year earlier.

  Turnover fell to $21.9 million from $40.11 million previously.

  While operating loss was slashed to $4.1 million from $16.92 million, there was no exceptional items to lift the company out of the red. Last year it posted an exceptional gain of $12.87 million.

  Loss per share rose to 0.81 cent from 0.45 and no interim dividend was announced. None was paid a year earlier.

  South China Strategic attributed the increased losses to a reduction in the trading of listed securities and the cessation of its pharmaceutical manufacturing operations in China.

  The company announced a rights issue in August after a new management team was formed in April.

  The company said its Charming Square property project in Shanghai was at the basement excavation stage while Ocean Jazz Villa in Qingdao, Shandong province, was at the tendering stage. The projects were expected to be complete in the second half of 1997.

  It said a more significant share of the profit from its Dongguan Taihe Garden project would be booked in the second half of the 1995-96 financial year.

 Yiu Wing International Holdings posted a loss of $22.55 million for the six months to September 30, compared with a profit of $18.1 million a year earlier.

  The company said its operating losses widened to $10.02 million from $3.47 million previously.

  Losses were increased by exceptional items totalling $5.6 million, the result of a $9.18 million provision for diminution in the value of an investment in an associated company and gains of $3.5 million from securities trading.

  The company recorded a loss of $8.4 million from associated companies, compared with a profit of $11.01 million previously.

  Turnover fell 14 per cent to $265.11 million. Loss per share was 4.69 cents against earnings of 4.16 a year earlier.

  No interim dividend was announced, against a two-cent payout previously.

 Tungtex (Holdings) announced a 60 per cent drop in attributable profit to $9.23 million for the six months to September 30.

  A dividend of one cent will be paid on February 15, compared with two cents a year earlier.

  An exceptional loss of $4.75 million came from severance payments in the reorganisation of the silk clothing maker and distributor's production.

 The firm has been subject to a takeover bid by Charter View since April but the deal fell through in July.

 Recor Holdings has slipped into the red with losses of $20.74 million for the six months to September 30 against profits of $6.19 million a year earlier.

  Turnover was $432.86 million, down 20.9 per cent from $547.52 million..

  Losses per share were 5.52 cents, against earnings of 1.6 cents.

  The audio-visual manufacturer did not pay an interim dividend, against one cent per share a year earlier.

 Vanda Systems & Communications Holdings posted a 19.6 per cent rise in attributable profit to $18 million for the six months to September 30. Turnover rose 16 per cent to $277 million.

  An dividend of three cents will be paid on February 1. The company was listed in April.

 CIG-WH International says attributable profit rose 33.5 per cent to $18.27 million for the six months to September 30 from $13.68 million a year earlier.

  The construction company, a joint venture between Wing Hing Holdings and the China Insurance Group, was listed on the stock exchange last week.

  Earnings per share were 14.9 cents on a fully diluted basis. No comparative figures were available.

 Luen Fat Hong International says attributable profits rose 86 per cent to $28.07 million for the six months to September 30 from $15.09 million a year earlier.

  Turnover was $428.56 million, up 58.4 per cent from $270.54 million. Earnings per share were 12.4 cents.

  Because the plastics manufacturer and trader was listed in October, no comparative figures were available, and no interim dividend will be paid.

 Burlingame International says attributable profit fell 51.75 per cent to $13 million for the six months to September 30 from $26.94 million a year earlier.

  The property development and investment firm posted turnover of $351.93 million in the period, up 9.4 per cent from $321.46 million.

  Earnings per share were 3.07 cents, down from 6.35 cents. No interim dividend will be paid.

 Artfield Group recorded a 13.8 per cent year-on-year drop in attributable profit to $25.1 million for the six months ended September 30, despite a 18.6 per cent increase in turnover to $134.4 million.

  Earnings per share were 11.24 cents, against 17.17 previously.

  The clock-maker announced an interim dividend of 4.5 cents to be paid on Sunday.

 Stelux Holdings recorded an increase in net profit to $50.4 million for the six months to September 30 from $40 million a year earlier.

  Turnover increased to $929.3 million from $864.4 million.

  The company announced an interim dividend of one cent to be paid on February 26, against two cents previously.

 Tack Hsin Holdings has slipped into the red with losses of $7.25 million for the six months to September 30 from profits of $57.09 million a year earlier.

  Turnover of $235 million was similar to that recorded at the interim stage last year.

  While the restaurant operator managed to maintain an operating profit in the previous period, it posted operating losses of $5.64 million in the latest period.

  Losses per share were 2.42 cents, compared with earnings of 19.03 cents a year earlier.

  The interim dividend was halved to one cent.

 Capital Asia says attributable profit fell 67.2 per cent to $5 million for the six months to September 30 from $15.27 million ia year earlier.

  Turnover was $214.04 million, down 8.8 per cent from $234.78 million previously.

  Earnings per share were 1.16 cents against 3.55 cents in the same period last year.

  No interm dividend will be paid.

 First Asia International Holdings announced a loss of $6.27 million for the six months to September 30, compared with a profit of $68.49 million a year earlier.

  Losses per share were 1.3 cents for the period against earnings per share of 15.6 cents previously.

  However, the company reported an increase in turnover to $152.5 million from $68.2 million.

 Dransfield Holdings says its attributable profit for the six months to September 30 grew 21 per cent, despite the lacklustre trading environment.

  The trading group's profit in the period was $12.6 million, compared with $10.3 million in the same period last year.

  Turnover rose 42 per cent to $412 million, while earnings per share were 3.3 cents, against 2.9 cents previously.

 Group Sense (International) announced a loss of $27.63 million for the six months to September 30, compared with a profit of $34.83 million a year earlier.

  Turnover fell 9.2 per cent to $221.45 million from $243.95 million previously, while operating losses were $18.56 million against $26.06 million.

   Losses per share were 3.4 cents against earnings per share of 4.4 cents in the same period last year.

  The directors did not recommend an interim dividend.



COMPANY RESULTS ROUNDUP