HONG KONG, Jan. 27, 2011 /PRNewswire-Asia/ --Leading electronic consumer products and components producer Sunway International Holdings Limited (SEHK: 58) today announces its annual results for the year ended 30 September 2010.
Turnover of the Group for the year ended 30 September 2010 increased by 4.3% to HK$981,860,000, compared to HK$941,458,000 reported last year. Gross profit for the year was HK$70,340,000 compared to gross loss HK$55,294,000 last year. Apart from absent of the effect of provision for obsolescent made last year, the Group put more efforts on production cost control. As result, gross profit was improved by HK$125,634,000. The Group reported a net loss of HK$36,724,000 for the year ended 30 September 2010 compared to HK$172,569,000 last year. Basic loss per share for the year was 4 cents. No final dividend was proposed for the year.
Turnover of electronic calculators was HK$454,970,000 representing a decrease by 12.7% compared to HK$520,876,000 last year. Sales of electronic calculators contributed 46.3% of the Group's turnover for the year and remained to be the largest business segment of the Group. Sales of electronic watches and clocks increased by 16.2% to HK$151,213,000 compared to HK$130,079,000 last year. It accounted for 15.4% of the Group's total turnover for the year.
Telephone products recorded a turnover of HK$31,139,000, down by 67.1% compared to HK$94,647,000 last year. It represented 3.2% of the Group's turnover for the year. Sales of digital products amounted to HK$155,574,000, increased by 2.7 times compared to 41,875,000 last year. It represented 15.8% of the Group's turnover for the year.
The Group emphasizes product differentiation and endeavors to develop high-end products. During the year, the Group has launched new products, such as LED talking clock, and there were favourable responses from the market. Sales revenues from PRC, Asian and American countries were increased substantially which correspond with the recovering global economy.
Financial Highlights
| Year ended 30 September, | ||
| 2010 | 2009 | |
| HK$'000 | HK$'000 | |
| Turnover | 981,860 | 941,458 |
| Loss before Tax | (32,437) | (167,521) |
| Net Loss attributable to owners of the Company | (36,724) | (172,569) |
| Loss per Share-Basic | (HK$4cents) | (HK$17cents) |
| Proposed final dividend per share | HK$Nil | HK$Nil |
About Sunway International Holdings Limited
Sunway International Holdings Limited (SEHK: 58) is a leading China-based manufacturer of consumer electronic products and components with a wide stretch of businesses including calculators, watches and clocks, digital products, quartz crystals and liquid crystal displays ("LCD"). It is one the region's largest manufacturers of calculators, quartz crystals and LCD. It participates in the thriving telecom equipment-manufacturing sector through 40% interest in a jointly-controlled entity with Taiwan Telecommunication Investment Co. Ltd. The Group's manufacturing facilities are based in Fujian, China with a workforce of approximately 9,000.
For more information, please contact:
| Sunway International Holdings Limited | |
| Raymond Leung | |
| Tel: | +852-2413-6812 |
| Fax: | +852-2413-6859 |
| Email: | raymond@sunwayhk.com |
