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2002-7-15 10:59:00 a.m. HKT, XFNA
Southeast Asia Properites end-March funds on hand 380.2 mln hkd
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HONG KONG (AFX-ASIA) - Southeast Asia Properties & Finance Ltd (252.HK)
said it had 380.2 mln hkd in funds on hand at the end of March 2002, against
389.7 mln a year earlier.
The company announced on Friday a net profit of 14.315 mln hkd for the
year ended March, compared with 14.530 mln a year earlier.
During the period, property development and investment business brought
in revenues of 22.002 mln hkd and operating profit of 5.795 mln, compared
with revenues of 29.802 mln hkd and profit of 3.119 mln a year earlier.
Revenue from manufacturing and trading of plastic packaging materials
fell to 126.582 mln from 128.135 mln, but operating profit from the business
rose to 12.65 mln hkd from 3.023 mln.
Stock broking and finance business brought in sales of 13.572 mln
compared with 22.338 mln a year earlier, with operating profit decreasing to
535,769 hkd from 29.19 mln.
The company's Hong Kong operations saw their profit dropping to 10.134
mln from 34.313 mln a year earlier, while losses in mainland China operations
narrowed to 3.107 mln from 7.701 mln.
The company said its profits improved in the rest of Asia, as well as in
Australia, North America and Europe.
wj/rc
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