Big profit jump for Jademan

Kenneth Ko

JADEMAN Holdings yesterday reported a 138.5 per cent rise in profit before extraordinary items to $46.9 million for the six months ended September 30, compared with $19.66 million for the same period in 1991.

There was an exceptional gain, arising from write-backs, of $4.23 million, but it also saw an extraordinary loss of $1.56 million.

Profit attributable to shareholders amounted to $45.33 million.

Turnover rose 14.6 per cent to $233.63 million from $203.9 million.

Earnings per share were 7.52 cents, compared with 3.4 cents previously. The company will pay an interim dividend of three cents a share.

Jademan said it was producing jointly with a Japanese publisher a comic series adapted from the Chinese historical novel, The Three Kingdoms.

It said advertising sales for Tin Tin Daily News remained strong, but it cautioned that the recent Sino-British confrontation was likely to affect the local advertising industry.

If the political stalemate continued into the next financial year, it might lead to a slowing down of the strong growth that Jademan was currently enjoying, it said.

The group was planning to buy additional computerised typesetting and other support facilities to maximise productivity and increase capacity to meet future demand.