Lung Kee's net profit leaps to HK$191.7m for 2016
HONG KONG-based mould maker Lung Kee (Bermuda) on Friday posted a full year net profit of HK$191.7 million (S$34.5 million) for 2016, a jump of more than 50 per cent compared with the previous year.
The company also listed HK$2.213 billion in revenue for the year ended Dec 31, 2016, down slightly from HK$2.279 billion in 2015.
The group attributed the "substantial growth" in net profit to sustained improvement in cost control, production efficiency of the business and the recording of other income upon deregistration of a subsidiary in China.
The group's directors are set to recommend a final dividend of 12 HK cents per share and a final special dividend of 12 HK cents per share at the company's annual general meeting on May 15, up from last year's eight HK cents and five HK cents, respectively.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Syngenta to withdraw China IPO application on weak market: sources
Chinese firms’ fundraisings in limbo as IPOs scrutinised at home and abroad
China’s Huawei continues rebound with strongest earnings growth since 2019
Hatten Land gets notice of default, letter of demand for RM14 million, appoints financial adviser
ComfortDelGro wins contracts to run buses in Manchester
Sam Bankman-Fried, at sentencing, acknowledges FTX customers have suffered