The Hong Kong-based leather goods manufacturer Hua Lien International Co Ltd has reported a 41.6% year-on-year decline in profits for the half-year period ended June 30 200, to HK$24.8 million (US$3.1 million).

The company attributed the fall to the combined effects of a HK$54.382 million decrease in sales and the cattle disease-induced rise in the price of hides. Other factors cited were a drop in by-product sales and a HK$3.285 million increase in staff costs and other administrative expenses.

Share this story: