Mainboard-listed construction group Tiong Seng Holdings says wholly-owned subsidiary Robin Village Developments is building a $26 million prefab hub to supply pre-cast concrete components. The 19,000 sqm mechanised prefab hub, to be completed in the third quarter of 2011, will double its current output to more than 100,000 cubic metres of pre-cast components annually.
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Mainboard-listed Hu An Cable Holdings, one of the top 10 cable and wire manufacturers in China, has posted a 30.2% surge in net profit to RMB134.1 million ($25.9 million) for the nine months ended 30 September 2010 (9M10) from RMB103.0 million a year ago.
9M10 revenue increased by 77.3% year-on-year to RMB1,673.1 million on the back of higher sales across all its business segments. The cable and wire segment contributed RMB1,128.6 million or 67.5% to the overall revenue, while the contribution from the other segments including copper rods increased from 13.1% in 9M09 to 32.5% in 9M10.
Mainboard-listed ISDN Holdings, the motion control and industrial computing engineering specialist, says net profit for the third quarter of FY2010 (3QFY2010) rose nearly three-fold to $2.6 million in 3QFY2010 from $0.9 million in 3QFY2009.
The rise was backed by revenue growth of 50.5% from $28.4 million in 3QFY2009 to $42.8 million in 3QFY2010. That brought the nine-month tally to $118.4 million for 9 months ended 30 September 2010 (9M ended 30 Sep 2010) in group revenue, an increase of 65.2% y-o-y, from $71.6 million previously for 9 months ended 30 September 2009 (9M ended 30 Sep 2009), generating net profit of $8.1 million for 9M ended 30 Sep 2010, a four-fold jump, from $2.0 million for 9M ended 30 Sep 2009.
Mainboard-listed China Sports International, the branded sports fashion footwear and apparel company based in China, says net profit after tax for the second quarter ended 30 June 2010 (2Q10) fell 63.8% to RMB13.1 million ($2.6 million) from RMB36.2 million in 2Q09.
In 2Q10, Group revenue declined 40.7% to RMB311.0 million from RMB524.3 million in the same period last year (2Q09). The decrease in revenue was mainly attributable to increasing competition in the industry, especially for footwear products that resulted in weaker demand for the group’s products. In 2Q10, gross profit fell 42.8% to RMB48.0 million compared to RMB84.0 million in 2Q09. Earnings per share in 2Q10 was 1.99 RMB cents while net asset value per share as at 30 June 2010 was 113.03 RMB cents.
Lorenzo International, the retailer and exporter of lifestyle furniture, has reported earnings of $2.6 million for the six months ended 30 June 2010 (1HY2010) compared to a loss in 1HY2009.
Group revenue increased 0.7% to $40.9 million in HY2010 from $40.6 million in HY2009 primarily driven by a strong retail segment.
Pan Hong Property Group, the Hong Kong-based property developer that focuses on developing properties in the second and third-tier cities in China since 1980s, recorded a net profit of RMB13.0 million ($2.6 million) for the quarter ended 30 June 2010 (1Q2011), an increase of 27.4% from RMB10.2 million in 1Q2010.
Westminster Travel says it posted a 27% rise in net profit attributable to equity holders of the company to HK$14.1 million ($2.58 million) in HY2010 from HK$11.1 million in HY2009, due to the non-recurring professional expenses incurred for the listing of the company in HY2009.
