TNAG-2467-FCO40-3591-Economic-situation-in-Hong-Kong-1992 — Page 106

27% lift for Hotel group

Hongkong and Shanghai Hotels has reported a 27 per cent jump in after tax profit to HK$159 million (US$20.4 million) for the first six months of the year compared with the same period last year. Visitor arrivals in the first six months of this year have recorded a 19 per cent increase.

Dah Sing up

The interim results of Dah Sing Financial Holdings show a 33 per cent increase in profits attributable to shareholders to HK$90 million (US$11.5 million).

Ninja Turtles dive

Playmates International, which shot to prominence with the hugely successful Teenage Mutant Ninja Turtles, has shown a 52 per cent slump in interim profits to HK$175.6 million (US$22.5 million). Turtles sales fell in the first six months, with turnover dropping to HK$645.5 million (US$82.8 million).

Playmates' main supplier, Harbour Ring International, also saw turnover and profits fall, but on a smaller scale. Profits in the first six months were HK$82.2 million (US$10.5 million) and turnover HK$409 million (US$52.4 million).

G.I. Joe holds

Strong 1992 results for Herald (Hongkong) Ltd with turnover (up 44 per cent) and profit (up 124 per cent) showed some local toy makers are still having a good time. Herald earned more than two-thirds of its HK$80.7 million (US$10.3 million) profit after tax and minority interests from its toy manufacturing business. The group's highest profile toy is G.I. Joe.

Oriental Daily profit inches up

Oriental Daily Press has posted a one per cent increase in net profit for the year ended March, despite recording a 33 per cent jump in group turnover. The Chinese newspaper announced a net profit of HK$203.8 million (US$26.13 million), an increase of HK$2.3 million (US$0.29 million) over the last corresponding period.

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