Lerado adapts to spending fall

The weaker United States economy has dragged baby-products maker Lerado Group's net profit down 31 per cent to HK$59.37 million in the first half to June 30.

Turnover was down 10.4 per cent to HK$574.91 million from HK$641.74 million previously.

Chairman Huang Yingyuan blamed the decrease mainly on the drop in orders from the US market, which accounted for almost 60 per cent of group turnover.

Since consumers in the US had curbed their spending on high priced goods, Mr Huang said the company had focused on middle- to low-end products, which also contributed to the sales fall.

Lerado produces infant and pre-school products such as baby strollers, baby beds and battery operated ride-on cars.