What the Brokers said

INNOVATIVE International is engaged in the design, manufacture and marketing of antennae and car-related consumer products.

This time last year, ING Baring Securities Hong Kong placed a buy on the stock, saying the company's growing manufacturing operations should help it outperform.

This proved poor advice as the stock plummeted in mid-year when Innovative revealed its profits had slumped due to provisions made for bad debts.

Twelve months ago, Innovative shares traded at $3.20. Now they are worth $1.40, having lagged the Hang Seng Index by 41.6 per cent.