Dale and all,
RE: Legend,
Has anyone posted this ? This is from WSJ ;
Hong Kong's Legend Holdings Posts
Narrower 1st-Half Loss
Dow Jones Newswires
HONG KONG -- Legend Holdings Ltd., a Hong Kong computer
maker, reported Thursday it narrowed its losses to 48.8 million
Hong Kong dollars (US$6.3 million) for the first half ended Sept.
30, from its loss of HK$72.0 million a year ago.
Sales increased 27%, but the company said distribution of its
products in China and Hong Kong slid by 50%, keeping the
company in the red.
Legend said it tried to scale down or stop distributing outdated
models of foreign computer products, in favor of distributing new
value-added products.
"We have been switching to a more advanced Pentium chip, which
means we can increase our profit margin by 40%," said Mary Ma,
Legend's executive director.
The company is selling off non-core or non-performing businesses,
concentrating on products with higher margins, said Legend
officials, who added that next year's results will be better.
The company's motherboard business grew adequately in the first
half of 1997, Legend Chairman Liu Chuanzhi said.
"Our systems-integration business also continues to grow and the
mass production of PCBs (printed circuit boards), which began
earlier this year, contributed to a boost in business," Liu said.
A restructuring of management should significantly improve the
distribution business and help with the company's turnaround,
company officials said.
Good luck to all, bulls and bears!
BPP(Bipin's partner) |
