ABNORMAL rainfall and the slowdown in Hongkong's construction sector caused Hansom Holdings to post a net loss of $11.9 million for the year ended March 31 compared with a net profit of $27.9 million a year earlier.
The company's results in fiscal 1992 included an extraordinary gain of $2.6 million.
Turnover fell 16.5 per cent to $150.5 million compared with $181.6 million a year earlier.
A higher offer for a controlling interest in Hansom Holdings has been made by Sunko Developments, run by former Li Ka-shing employee Psyche Leung.
Following the finalisation of Hansom's balance sheet for the year ended March 31, which showed consolidated net tangible assets of $108.06 million, Sunko has raised its offer for a 58 per cent stake from the initial 88 cents a share to 91.8 cents a share.
In April, Sunko Development said it had agreed to acquire 58 per cent of Hansom's existing shares and outstanding warrants.
