HONG KONG: Shoe maker Prime Success misses FY estimates
Hong Kong shoe maker Prime Success International Group missed full year profit forecasts after battling a list of problems including rising production costs, higher interest rates and intensifying competition.
2006 net income increased 15% to HK$291.6m (US$37.3m), falling shy of estimates of HK$347.4m.
The company supplies shoes to customers in the US and Europe and has its own stores in China.
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