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2002-4-22 11:33:00 a.m. HKT, XFNA
SAS Dragon - FY net loss due to weak electronics industry
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HONG KONG (AFX-ASIA) - SAS Dragon Holdings Ltd said its full-year net
loss was due to difficult market conditions for the electronics industry,
especially after Sept 11.
In 2001, the company booked a net loss of 73.075 mlm hkd, from a profit
of 12.415 mln in the previous year.
During the period, the company recorded a loss of 49.583 mln hkd from
electronic manufacturing from a profit of 15.709 mln. It reported a profit of
27.591 mln hkd from electronic distribution, against 19.937 mln hkd in the
previous year.
The company's performance in the distribution of sports products was
stable, with turnover of 68.84 mln hkd, from 63.445 mln last year, it said.
The company said it plans to shift its focus to consumer electronics,
taking advantage of growing market demand in China.
The company will also strengthen its sports equipment distribution
business, and is planning to set up distribution offices in Shanghai and
Beijing.
wl/tr
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