LED International counts wider losses

LED International which makes LED components and screens, said full year losses widened as it battles against challenging trading conditions but it remains cautiously optimistic about future trading.

LED International which makes LED components and screens, said full year losses widened as it battles against challenging trading conditions but it remains cautiously optimistic about future trading.

The group, which makes LED screens, outdoor signs, lamps and energy efficient lighting said pre-tax losses widened to HK$39.482 for the year to June 30th compared to HK$30.5m a year earlier.

"The slowing growth in the domestic market and rising costs in the PRC continue to pose the major challenge to the group's continuing manufacture of LED element products during the financial year, and this was exacerbated by further wage rises," the group said in a company statement.

Revenue for the year fell to HK$19.8m compared to HK$27.5 in 2011.

"Internationally, the business environment remains challenging following the global financial crisis and the sovereign debt crisis especially in the Euro-zone and the US. Domestically, our operation was also impacted by rising inflation and slowing economic growth within the PRC throughout the year under review," LED added.

Diluted loss per share stood at 9.5 HK cents compared to 7.8 HK cents previously.

CJ

Recommended

How to be better at selling stocks
Investment strategy

How to be better at selling stocks

There is plenty of advice around about buying stocks, but not so much about when you should sell. John Stepek explains the two key things to know abou…
14 Jan 2022
Share tips of the week – 14 January
Share tips

Share tips of the week – 14 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
14 Jan 2022
Fintech: how to profit as technology transforms banking around the world
Share tips

Fintech: how to profit as technology transforms banking around the world

Financial technology – from apps to APIs to the cloud – is rapidly transforming financial services. This will spell doom for some incumbent firms, whi…
14 Jan 2022
Three solid assets to buy for a low interest-rate world
Share tips

Three solid assets to buy for a low interest-rate world

Professional investor Luke Hyde-Smith of the Waverton Real Assets Fund, highlights three alternative investments to diversify your portfolio.
14 Jan 2022

Most Popular

US inflation is at its highest since 1982. Why aren’t markets panicking?
Inflation

US inflation is at its highest since 1982. Why aren’t markets panicking?

US inflation is at 7% – the last time it was this high interest rates were at 14%. But instead of panicking, markets just shrugged. John Stepek explai…
13 Jan 2022
Five unexpected events that could shock the markets in 2022
Stockmarkets

Five unexpected events that could shock the markets in 2022

Forget Covid-19 – it’s the unexpected twists that will rattle markets in 2022, says Matthew Lynn. Here are five possibilities
31 Dec 2021
Interest rates might rise faster than expected – what does that mean for your money?
Global Economy

Interest rates might rise faster than expected – what does that mean for your money?

The idea that the US Federal Reserve could raise interest rates much earlier than anticipated has upset the markets. John Stepek explains why, and wha…
6 Jan 2022