Lung Cheong International's profit in the year to March 31 jumped 53 per cent from a year earlier to HK$26.6 million, buoyed by improved sales and a focus on original design manufacturing (ODM).
'Certain innovative ODM products developed by the group were very successful in their respective categories during the year,' chairman Leung Lun said yesterday after the company's annual general meeting.
'In addition, the increase in sales and higher gross margin also contributed to the growth in profits.'
ODM accounts for about 15 per cent of Lung Cheong's turnover, while the remainder is generated from original equipment design.
Executive director Andy Wong Tze-on said the company aims to increase the portion of ODM to 30 per cent this year.
He also said a project to develop interactive, computerised toys would be launched this year.
