Lam Soon deeper in the red

Lam Soon (Hong Kong) says net losses widened last year to $82.2 million from $62.6 million because of lower trading margins and debt servicing.

Turnover for the year to December rose 18 per cent to $3.7 billion. Losses per share were 17 cents, compared with 12.9 cents previously.

Net current liabilities soared to $949 million from $462.5 million.

The company said it was considering capital restructuring.