HONG KONG, July 2 /Xinhua-PRNewswire/ -- Leading electronic consumer product and components producer Sunway International Holdings Ltd (SEHK: 58; SES: Sunway) today announces its interim results for the six months ended 31 March 2007. The Group recorded a consolidated turnover of HK$513,476,000, an 13.3% increase compared with HK$453,277,000 in corresponding period last year. Profit before tax increased 74.4% to HK$10,838,000. Net profit for the period was HK$9,400,000, representing an increase of 77.1% from the previous period. Basic earnings per share for the Period were 0.93 cents.
Sales of liquid crystal displays ("LCD") remained strong and recorded a growth of 60% to HK$122,456,000 compared with HK$76,556,000 in previous corresponding period. It represented 23.8% of the Group's turnover for the period.
Turnover of electronic calculators was HK$199,084,000, dropped by 15.5% from the previous corresponding period. This business category contributed 38.8% of the Group's turnover for the period. The Group continued to supply a wide range of electronic calculators to meet the market's need.
Revenue from electronic watches and clocks amounted to HK$79,062,000, rose 42.4% from the previous corresponding period. It accounted for 15.4% of the Group's turnover. Telephone products recorded a turnover of HK$65,574,000, increased by 217% compared with the previous corresponding period. Launching of new products like mobile telephone accounted for the surge in sales of the telephone products. The Group expects that this telephone segment will continue to generate growth in revenue in the coming years, as there is huge demand of telephone products in Mainland China.
Ms Wong King Ching, Helen, Chairman of Sunway, remarked: "The Group anticipate a promising business growth in the second half of the year. The Group emphasizes product innovation and the investment in research and development will keep the Group in enlarging our market share as well as attracting new customers. At the same time, new original equipment manufacturing ("OEM") projects for electronic calculators are in progress. The projects will generate new source of revenue to the Group. Efforts are also made in exploring new overseas customers, including some large chain stores from USA and Europe."
Financial Highlights
Period ended 31 March,
2007 2006
HK$'000 HK$'000
Turnover 513,476 453,277
Profit before Tax 10,838 6,214
Net Profit Attributable to Shareholders 9,400 5,308
Earnings per Share - Basic HK0.93 cents HK0.52 cents
About Sunway International Holdings Limited
Sunway International Holdings Limited (SEHK: 58; SES: Sunway) is a leading China-based manufacturer of consumer electronic products and components with a wide stretch of businesses from calculators, quartz crystals, liquid crystal displays (LCD), telephones and integrated circuits to electronic watch movements. It is one the region's largest manufacturers of calculators, quartz crystals and LCD. It participates in the telecom equipment-manufacturing sector through a 40% interest in a joint venture with Taiwan Telecommunication Investment Co. Ltd. The Group's manufacturing facilities are based in Fujian, China with a workforce of approximately 20,000.
Media Contact:
Sunway International Holdings Limited
Raymond Leung
Tel: +852-2413-6812
Fax: +852-2413-6859
Email: raymond@sunwayhk.com
