TNAG-2466-FCO40-3590-Economic-situation-in-Hong-Kong-1992 — Page 87

Dairy Farm down

Dairy Farm International Holdings saw its net profits slip three per cent to US$147 million (HK$1.1 billion) in the year to December. The fall in earnings came despite a 26 per cent rise in turnover.

Hotel Group down

Hong Kong and Shanghai Hotels also experienced difficult trading as a result of the Gulf War and the recession in several major western economies. The group finished the year with a profit of HK$313 million (US$40 million) - six per cent lower than that recorded for the previous year. Turnover rose one per cent to HK$1.73 billion (US$222 million).

Hysan Development up

Hysan Development has increased attributable profit by 19.3 per cent of HK$710.5 million (US$91 million) for the year ended December. The company, which is one of Hong Kong's biggest landlords, recorded an 18 per cent rise in turnover to HK$1.05 billion (US$135 million).

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