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SINGAPORE: Singapore-listed China Kunda Technology has posted a 25.6 per cent on-year decline in its first half net profit to HK$20.5 million or around S$3.7 million.
This was despite its revenue for the six months ended September rising 17.8 per cent to HK$58 million or around S$10.4 million.
The company reported on Thursday a 56 per cent fall in technical fee income in the quarter and higher selling and distribution expenses.
Looking ahead, China Kunda expects the business environment to remain challenging and volatile over the next 12 months, given the uncertain state of the global economy.
But it believes that its technical expertise in the field of plastic injection moulding will continue to be a key competitive strength.
- CNA/so
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