Trading company Cheung Tai Hong Holdings said a $12 million disposal of vacant properties helped net profits rise by 350 per cent to $22.8 million for the six months to September 30 The company said turnover increased 14 per cent to $336 million up from $295 million from the same period last year.
Cheung Tai Hong chairman Wong Chun-hong said about 90 per cent of the company's present income came from trading Brother industrial sewing machines and Suzuki motorcycles.
He said the second half of the year would begin to see contributions from the company's recent diversification into construction materials trading and retailing on the mainland.
About half of revenues came from its sewing machine division.
Earnings per share was 2.4 cents, up from 0.8 cents for the same period last year.
