Lee & Man result up 16pc

Handbag-maker Lee & Man Holdings saw attributable profit rise 16 per cent to $113.29 million for the year to March, while turnover rose 8.53 per cent to $811.8 million. Earnings per share were 17.2 cents, up from last year's 14.7 cents. No final dividend will be paid. The company was listed in May this year. Besides handbags, which account for 68.48 per cent of its turnover, the company also engages in the manufacture of paper packaging and audio cassettes.