HB posts 4.15pc gain in first half

Telecommunications product maker HB International Holdings has reported a small rise in earnings for the first half to January 31.

Net profit was up 4.15 per cent on the first six months of the last financial year at $33.04 million, while turnover grew slightly faster, by 8 per cent, to $642.03 million.

Earnings per share were $0.066 compared with $0.064 a year earlier. A dividend of $0.025 represented a cut from the $0.035 paid out previously.

There was an exceptional item of $2.43 million relating to write-back of over provisions from losses in a Shenzhen warehouse fire in 1995.

Chairman Lee Kin-sing said growth was satisfactory as a result of a successful policy of a wide geographical distribution of business.