Kingmaker outlines plans for the future
Hong Kong-based Kingmaker Footwear Holdings Ltd , a major producer of Timberland boots, has posted a 15% rise in output in the first quarter ended June 30 over the previous three month period.
Kingmaker says it plans to invest HK$200 million (US$130 million) in capital expenditure over the next two years, including new production lines at an existing factory in Vietnam and a brand new manufacturing site at Zhongshan, southern China. It also intends to concentrate more on the production of women’s footwear.
Daniel Chan, chief executive, previously said he anticipated a ‘double-digit’ increase in turnover for whole of fiscal 2001, as opposed to the 8.4 percent increase to HK$1.06 billion, recorded in 2001. He also said the company hoped to double sales turnover in its second largest market in Europe, which currently accounts for 21.5 percent of total turnover.
Last July, Kingmaker reported a 15.86% rise in net profits for the year ended March 31, to HK$148.85 million.
