Poly dives as turnover soars

POLY Investment profit slumped 76 per cent, from $125 million to just $30 million in the six months to September 30 in spite of turnover up 289.66 per cent from $54.2 million to $211.2 million.

Earnings per share fell 76 per cent from 10.3 cents to 2.5 cents in the corresponding period. No final dividend was declared.

An 83 per cent increase marked the operating profit before exceptional items from $15.4 million to $28.3 million.

Directors of the sportswear manufacturer and property investors said both the increases were 'mainly attributable to the inclusion of the six months results of Hangzhou B P'.