Indesen returns to the black

Indesen Industries Co yesterday announced a net profit of $5.74 million, compared with a net loss of $494,000, thanks to expanded production of video cassette tapes and interest gains. Sales rose 199 per cent to $182.64 million, up from $61.03 million. Earnings per share were 0.7 cent, compared with a net loss of 0.2 cent. Directors would not declare an interim dividend, the same as the previous year.