TAI Ping Carpets International yesterday reported unaudited consolidated profit of $12.87 million for the six months to June 30, 34 per cent down on the same period last year.
Earnings per share were 13 cents, down 35 per cent from 20 cents in the same period of 1992. The dividend recommended would absorb a total of $9.66 million.
An interim dividend of 10 cents per share was recommended compared with 11 cents in the previous year.
Turnover was $117.77 million, down by six per cent.
Tai Ping, controlled by the Kadoorie family, is Hong Kong's leading carpet manufacturer with operations in South East Asia and the US.
It is relocating Hong Kong manufacturing operations to southern China and already has a carpet making joint venture in Shandong Province.