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INTERVIEW-Prada supplier Heng Long aims for 20 pct FY growth
SINGAPORE, Oct 2 (Reuters) - Singapore-listed crocodile leather tanner Heng Long hopes to see 20 percent profit growth this year, helped by resilent demand at regular customers such as Prada and Testoni.
The firm, which processes raw crocodile and alligator hide into leather for handbags, watches and clothes, also said it plans to double production capacity within the next five years.
"We are working towards matching the first half (profit growth figure)," Heng Long director Koh Choon Heong told Reuters in an interview on Thursday.
Heng Long achieved a 19 percent rise in net profit to S$6 million ($4.2 million) in the six months ended June. Revenue during the period grew nearly 17 percent to S$36.1 million.