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2002-4-11 09:53:00 a.m. HKT, XFNA
Pegasus Intl FY net profit lower due to weak global economy
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HONG KONG (AFX-ASIA) - Pegasus International Holdings Ltd said its 2001
net profit was lower due to the weak global economy, prompting cautious
spending for retail products.
In 2001, Pegasus International recorded a net profit of 7.511 mln usd,
compared with 16.371 mln in the previous year. Sales dropped to 127.838 mln
usd from 172.678 mln.
In spite of the sluggish US economy, North America remained its largest
market, accounting for 57 pct of its turnover, while sales to the European
market dropped to 14 pct from 25 pct, it said.
With 120 sales outlets, the company's business in China has continued to
grow steadily, it said.
The company's product mix is 26 pct in sports sandals, 36 pct in casual
shoes, 19 pct in athletic shoes and 19 pct in other miscellaneous products,
it said, adding that it will continue with its product diversification plan.
wl/jg
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