(Adds further details)
LONDON (Thomson Financial) - LED International Holdings Ltd. reported a much
lower first-half pretax profit, as the company did not take up certain
"high-margin" orders due to the consolidation and moving of its key production
plants in Shenzhen, China.
The LED screen maker posted a pretax profit of about HK$2.62 million for the
six months to Dec. 31, 2007, compared with about HK$13.68 million in 2006, on
revenues of about HK$46.61 million, down from HK$55.48 million.
The company said that the fall in revenues was also due to the delay in
completion of a major contract worth over HK$22 million from a major Hong
Kong-based real-estate developer.
However, LED International said it hopes to achieve a "stronger growth" of
business and to cement its "leading" position in the LED sector.
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