UPDATE 1-Shanghai Industrial H1 profit falls as costs rise


(Updates with details) HONG KONG, Aug 25 (Reuters) - China-backed conglomerate Shanghai Industrial Holdings Ltd. posted a 44 percent fall in first-half earnings on Thursday due to higher operating costs and increased competition. But Chairman Cai Lai Xing flagged a better second half, saying the group has maintained a healthy financial position with an interest cover of 25 times and about HK$5.19 billion consolidated cash on hand or HK$3.05 billion net cash. "According to SMIC (China's ...

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