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2002-4-11 09:16:00 a.m. HKT, XFNA
Kith Holdings FY profit growth driven by marketing efforts, new technologies
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HONG KONG (AFX-ASIA) - Kith Holdings Ltd said its net profit growth in
2001 was driven by its marketing efforts and new technologies, which helped
the company acquire new customers and develop new products.
The company yesterday announced a net profit of 31.452 mln hkd for 2001,
compared with 30.497 mln a year earlier.
It said it acquired new customers including Yunnan Kunming Cigarette
Factory and Sichuan Shifang Cigarette Factory, while newly developed products
such as Yuanyan, State Guests, Guobao and Stone Forest are all popular
brands in the tobacco industry in China.
Looking ahead, the company will continue to improve its service quality
and focus on research and development of new products, it said.
In January, the company increased the total investment and registered
capital of its Yunnan production plant by 7.0 mln usd and 3.5 mln usd
respectively, it said.
At the end of December, the company's net debt to equity ratio was 37.6
pct against 40.4 pct a year earlier, while the interest coverage ratio of its
EBITDA to interest expenses was 7.2 times against 8.5 times previously, it
said.
wl/rc
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