Timely excursion to China
Thursday 09 February 1995
The new money is to be used to finance the company's expansion into China.
The company plans to place 30 per cent of its shares with institutions, giving the company a market value of £20m.
In the eight months to the end of November the company made £1.5m on a turnover of £18.9m. The company is forecasting profit before tax of £2.17m for the year to the end of March 1995.
More than 70 per cent of sales came from supplying watches and parts for well known brands such as Accurist, Casio and Timex.
The company also sells under its own brand, Saga, directly to China, where the company has concessions in 47 department stores.
Dailywin plans to open 33 more concessions and five more shops in China to capitalise on what it describes as a fast-growing consumer economy in that country.
The company also produces parts for famous up-market Swiss and French watch brands, but refused to say which.
Eddie Leung, executive chairman of Dailywin, said: "The listing will provide Dailywin with a strengthened capital base to take advantage of exciting retail opportunities in China.
"It will also fund further production facilities."
Established in Hong Kong by Mr Leung in 1978, the company manufactures in the Guangdong province of China.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits record low as popularity suffers in wake of Ukip sex scandal
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Germany sees 'visible rise' in support for far-right extremism in response to perceived 'Islamisation' of the West
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...