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2003-4-25 03:24:00 p.m. HKT, XFNA
HK's Grandy hopes to return to profit in 2003/04
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HONG KONG (AFX-ASIA) - Grandy Applied Environmental Technology Corp (8143.
HK) managing director Raymond Tsui said he expects the company to return to
profit in the year 2003/04 with growth fuelled by sales in China and Malaysia.
The company posted a net loss of 4.235 mln hkd for the nine months to Dec
2002, against the 2.539 mln hkd net profit achieved in the year-earlier
period.
Sales rose 15.2 pct year-on-year to 24.483 mln during the period.
The company has secured an environmental conservation consultancy project
from a major academic institution in Beijing. The contract will bring in
additional revenue of up to 10 mln yuan next year, he said.
He said the outbreak of Severe Acute Respiratory Syndrome (SARS) has
created business opportunities for the company. It has just launched air
purifiers.
peter.chan@afxnews.com
ptc/mh/skb
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