Hong Kong, Oct 11, 2012 - (ACN Newswire) - QuamIA has initiated research coverage on United Pacific Industries Ltd. ("UPI"; 00176.HK) with a Positive rating and a target price of HK$0.52, implying 39% upside.

Below is a summary for your reference:

-- UPI will continue to improve profitability driven by cost reductions and production efficiency following the completion of its UK restructuring program in 2012. We expect the precision measurement division to be the leading growth driver given increasing demand for higher efficiency manufacturing equipment.

-- Forecast revenue will grow at a CAGR of 11.9% from FY2011-FY2014E and expect UPI's gross margin will bottom out in FY2012E.

-- We anticipate UPI will deliver an improving dividend payout policy with a full-year dividend of HK1 cent per share for FY2012E.

Full report is available at http://www.quamir.com/quamir/researchreport.action?coId=187

About United Pacific Industries Limited (00176.hk)
United Pacific Industries Limited ("UPI") is a well-established manufacturer and distributor in quality consumer, professional, and industrial products. Major products of UPI include (i) hand-held tools, lawn and garden tools, (ii) precision measuring instruments, (iii) magnetic tools products and (iv) sophisticated consumer electronics. Besides, UPI also offers premier OEM services & Electronics Manufacturing Services (EMS) to leading brands. The Company has its core operating subsidiaries in the United Kingdom, France, Australia, New Zealand, Canada and the PRC, and the products are sold in more than 100 countries around the world.


For further information regarding UPI, please contact:
Quam IR
Ms Anita Wan (852) 2217-2811 anita.wan@quamgroup.com
Ms Sharon Au (852) 2217-2812 sharon.au@quamgroup.com
Ms Venus Lam (852) 2217-2813 venus.lam@quamgroup.com



Source: QuamIA

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