HONG KONG, June 26 /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 2008. The Group recorded a consolidated turnover of HK$458,781,000, representing a decrease of 10.7% compared with HK$513,476,000 in corresponding period last year. Profit before tax for the period was HK$3,214,000. Net profit for the period was HK$2,080,000, a decrease of 77.9% from the previous corresponding period. Basic earnings per share for the Period were 0.20 cents.
Sales of electronic calculators was HK$212,073,000, representing a growth of 6.5% compared with HK$199,084,000 in previous corresponding period. It represented 46.2% of the Group's turnover for the period. The growth in sales was contributed by the launching of a wide range of high-end electronic calculators in the market.
Turnover of telephone products amounted to HK$106,904,000, increased by 63% compared with the previous corresponding period. It represented 23.3% of the Group's turnover for the period.
Revenue from electronic watches and clocks was HK$66,184,000, dropped 16.3% from the previous corresponding period. It accounted for 14.4% of the Group's turnover.
Liquid crystal displays ("LCD") recorded a turnover of HK$40,495,000, dropped 66.9% from the previous corresponding period. It represented 8.8% of the Group's turnover for the period.
The Group emphasizes product innovation and product development and considerable amount has been invested in exploring high-end calculator products. As the demand from the market for these high-end calculators is increasing, we are expanding our production capacity to meet the market needs.
The business of telephone products is under rapid expansion. The Group considers that this segment will have great potential for growth, as there is growing demand for telephone products in Mainland China. The Group will continue to innovate high quality, with advanced functions telephone products to the market in order to attract new customers.
Financial Highlights
Period ended 31 March,
2008 2007
HK$'000 HK$'000
Turnover 458,781 513,476
Profit before Tax 3,214 10,838
Net Profit Attributable to Shareholders 2,080 9,400
Earnings per Share - Basic HK0.20 cents HK0. 93 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.
