Giordano profit
Giordano Holdings has posted an 87 per cent jump in profit to HK$85,1 million (US$10.9 million) for the 12 months to the end of December, well ahead of the forecast in the company's prospectus. The popular clothing manufacturer and retailer recorded a turnover of HK$1.17 billion (US$150 million), up 31 per cent over the previous year.
Peregrine up 146%
Peregrine Investment Holdings has increased its net profit by 145.8 per cent to HK$302.9 million (US$39 million) for 1991. Shareholders' funds at the end of December, including the subscription proceeds and the retained earnings for 1991, stood at HK$3.06 billion (US$392 million). In view of the satisfactory results, Peregrine plans a bonus issue of one new share for every five held.
Star shines
Star Paging, which listed on the Hong Kong stock exchange in August last year, has more than doubled its profit for 1991 to HK$56 million (US$7 million). Turnover for the year was up slightly to HK$377 million (US$48 million) and earnings per share were HK17.6 cents.
New World profit
A substantial increase in property sales bolstered the performance of New World Development in the first six months of the year by 166 per cent to HK$939 million (US$120 million). The interim result represented a strong recovery from the 53 per cent slide in profits recorded at the same time a year ago.
Wardley profit
Wardley Ltd, the merchant banking arm of the Hongkong Bank, has reported a 51 per cent increase in its net profit for the year to HK$512 million (US$66 million). Wardley's result comes on the heels of sold profit gains by other Hong Kong merchant banks, including Jardine Fleming (up to 13 per cent), Schroders Asia (up 75 per cent) and Standard Chartered Asia (up 17 per cent).
Cheung Kong
The flagship company of billionaire, Li Ka-shing, Cheung Kong finished the year with a 50 per cent increase in profits to HK$4.9 billion (US$628 million). The company's strong performance came on the back of its all-time high sales of residential properties during the year. Turnover was up 126 per cent to HK$9.99 billion (US$1.3 billion) with Cheung Kong recording the biggest total floor area of completed buildings in 1991 of more than six million square feet.
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