China's biggest PC maker posts 2.7 pct drop in full year profit

HONG KONG (AFP) May 28, 2003
China's leading PC manufacturer Legend Group said Wednesday its full year net profit fell 2.7 percent to a slightly less-than-expected 1.02 billion Hong Kong dollars (131 million US).

The company said sales dropped to 20.23 billion dollars in the year to March from 20.85 billion dollars the year before, while operating profit fell to 1.05 billion dollars from 1.097 billion dollars.

It said earnings per share declined to 13.55 cents from 13.86 cents.

The company proposed to pay a final dividend of three cents, against 3.6 cents a year ago, and also pay a special dividend of 5.2 cents.

The results were lower than the 1.03-1.07 billion dollar range forecast by analysts in a survey by financial news service AFX-Asia.

Last month, the firm changed the brand of its PC products to Lenovo from Legend in a move to lift foreign sales.

SPACE.WIRE