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2002-4-22 11:22:00 a.m. HKT, XFNA
Kader Holdings to take more cost-cutting measures, broaden customer base
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HONG KONG (AFX-ASIA) - Kader Holdings Co Ltd said it will undertake more
measures to reduce production costs, and continue to broaden its customer
base and design capability this year.
""The toy market is increasingly flattened and unpredictable with shorter
order lead time,"" it said in a statement accompanying its 2001 results.
The toy business posted a 101 pct increase in turnover in 2001 but the
sales margin is expected to be low in 2002 due to a very competitive market,
coupled with fluctuations in major material costs.
In 2001, the company posted a net loss of 24.89 mln hkd against a profit
of 5.032 mln a year earlier on sales of 430.637 mln hkd from 319.966 mln.
Kader said it remains cautiously optimistic about the economic situation
in 2002.
The group's total bank borrowings rose from 299 mln hkd in 2000 to 321
mln last year.
The rental income from the company's property investment amounted to
about 27 mln hkd in 2001, a 7 pct drop from the previous year, mainly due to
a fall in rental rates at an industrial building in Kowloon Bay.
""After several years of decline in the local property market, further
drops in rental rates are not expected ... the rental market is expected to
be active again,"" it added.
jg/tr
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