Date
22 October 2017
Chairman Dennis Lo Hoi-yeung (right) and Chan Chee-shing (left) say the company's mainland business has turned a profit. Photo: HKEJ
Chairman Dennis Lo Hoi-yeung (right) and Chan Chee-shing (left) say the company's mainland business has turned a profit. Photo: HKEJ

Fairwood boosts frontline staff salaries 10%

Fairwood Holdings Ltd. (00052.HK) is giving its frontline staff a pay increase of 8 to 10 percent next year.

The move comes amid a labor shortage and plans to open 12 to 15 shops in Hong Kong and two to three in mainland China, the Hong Kong Economic Journal reports.

The company posted 35.4 percent growth in net profit HK$102 million (US$13.16 million) in the six months to September.

The growth largely came from a one-time gain of HK$11 million from the sale of a factory, chief executive Chan Chee-shing said.

Meanwhile, recurring profit rose 19.8 percent to HK$90.2 million on increased average sales and cost control.

The mainland China business posted a profit of HK$2.16 million.

[Chinese version中文版]

– Contact us at [email protected]

VW/JP/RA

Hong Kong Economic Journal

EJI Weekly Newsletter

Please click here to unsubscribe