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Lung Kee (Bermuda)'s H1 profit falls 18%

Net profit fell 18 per cent for Lung Kee (Bermuda) Holdings for the six months ended June 30, the mainboard-listed company reported on Friday.

For the first half of 2018, profit attributable to owners of the company was HK$123.9 million (S$21.7 million), down from HK$151.3 million a year ago. Earnings per share was 19.61 HK cents, down from 23.96 HK cents the year before.

Lung Kee (Bermuda), which manufactures and markets mould bases and related products, recorded a 13.7 per cent rise in revenue to HK$1.37 billion from HK$1.2 billion a year ago.

Profits fell despite higher sales revenue as operating costs rose on higher raw material and labour costs.

An interim dividend of 12 HK cents per share "should be paid" to shareholders on Sept 5. For the year-ago period, an interim dividend of 12 HK cents and interim special dividend of 8 HK cents were declared.

The counter last traded on June 19 and closed at HK$4.132.

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