Man Wah tops previous profits

Hong Kong - Motion upholstery producer Man Wah Holdings said its operating profits for the nine months ended Dec. 31 already have topped the figure it achieved in its previous fiscal year, which ended March 31, 2013.
     In a filing with the Hong KongStock Exchange, the company alsosaid it expects net income for thecurrent fiscal year "to be significantlymore" than the previousyear. Man Wah, which makes motionupholstery under the Cheersbrand name, did not provide salesor earnings estimates for the fiscalyear.
     The company said the increaseswere due largely to "satisfactoryand steady revenue growth in allmajor overseas markets," particularlymainland China.
     For the six months ended Sept.30, Man Wah earlier reportedworldwide sales of 2.88 billionHong Kong dollars, or about$372 million. Net income was556.9 million Hong Kong dollars,or about $71.8 million.
U.S. sales for that period were$1.49 billion Hong Kong dollars,or about $192.2 million.

Furniture Today Staff | Staff Editors

Furniture Today covers all the news concerning manufacturers, retailers and suppliers in the home furnishings sector.

VIDEOS

  • Automated trucking, final mile and what's new with Amazon

    Camera Icon More Videos

Digital Edition

Furniture Today Digital Edition

See the digital edition of Furniture/Today, which allows you to flip through the pages, click on any underlined area to visit a website or send an e-mail, search to find content in the magazine, or share pages with your friends. See the latest issue!