Yue Yuen’s First Half Profit Dips 3.2%

Yue Yuen Industrial (Holdings) Ltd. said its first-half net profit fell 3.2% from a year earlier, due to higher tax expenses and despite an increase in sales. The Hong Kong-listed company said its net profit for the six months ended March 31 fell to US$210.8 million from US$217.7 million a year earlier.

Yue Yuen, a unit of Taiwan's Pou Chen Corp., said its revenue for the period rose 4.3% to US$2.65 billion from US$2.55 billion.

Yue Yuen proposed a first-half dividend of HK$0.34, unchanged from a year earlier.