Dransfield's net hits $21m

DRANSFIELD Holdings has announced net profits of $21.1 million for its first six months as a listed company.

The group, which distributes electrical equipment, personal care products and food and beverages, posted a turnover of $291.14 million for the half-year to September 30.

Basic earnings per share were 9.51 cents and directors have declared a dividend of 2.55 cents a share.

Chief executive Horace Yao Yee-cheong said sales in Hong Kong remained stable and provided a major contribution to the group's profit.

However, sales to China were hindered by a large fluctuation of the yuan and the austerity measures imposed in the country, he said.