Cheung Wah net surges 18-fold

Dyeing distributor Cheung Wah Development Co saw interim profit surge 18-fold to $2.01 million, from $106,000 last year, for the six months to September 30, on reduced operating costs. Turnover dropped 13.83 per cent to $127.93 million, from $148.47 million in the same period last year. Earnings per share were 0.34 cents against 0.02 cents last year. No interim dividend was declared.