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2003-9-16 03:39:00 p.m. HKT, XFNA
STOCK ALERT - HK's Playmates Holding higher on earnings outlook
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HONG KONG (AFX-ASIA) - Playmates Holding Ltd (635.HK) was higher in
mid-afternoon trade on expectations the company's earnings will be boosted by
a pick-up in toy sales ahead of the Christmas season, dealers said.
Playmate was up 0.14 or 9.93 pct at 1.55 hkd on turnover or 43.67 mln
shares.
""Investors expect further earnings gain from this company which for a
time was a leader in the toy making industry. I suppose they're betting on
the stock as demand for toys are expected to go up in preparation for
Christmas,"" a dealer from a local brokerage firm said.
The company returned to profitability in the first half, posting a net
profit of 9.91 mln hkd against the year-ago net loss of 42.54 mln hkd.
(1 usd = 7.8 hkd)
leonora.walet@afxasia.com
lw/skb
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