Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Elizabeth White, Lori MacVittie, Carmen Gonzalez, Srinivasan Sundara Rajan

News Feed Item

United Pacific Industries Profit Attributable to Owners of the Company Up 61% to HK$60.6 Million

Excellent Organic Growth Achieved, Supported by Increasing Sales

Hong Kong, Dec 12, 2012 - (ACN Newswire) - United Pacific Industries Limited ("UPI" or the "Group", Stock Code: 00176.hk), a world-class tools and electronics manufacturer, today announces its consolidated annual results for the year ended 30 September 2012 (the "Year").

During the Year, UPI achieved revenues of HK$1,468.6 million, up 15% compared to the previous year (2011: HK$1,277.0 million). Profit attributable to owners of the company soared 61% to HK$60.6 million when compared to last year (2011: HK$37.7 million). Earnings per share were 6.20 HK cents, representing an increase of 61% over last year (2011: 3.86 HK cents).

Given the good performance and substantial net cash balance, the Group's Board of Directors recommended the payment of a final dividend of 1.0 HK cent per ordinary share for the year ended 30 September 2012 (2011 final dividend: Nil). Together with the interim dividend of 0.5 HK cent per share, the total dividends for the year ended 30 September 2012 were 1.5 HK cents per share (Dividends for the year end 30 September 2011: Nil).

The Group recorded revenue for the Year of HK$1,468.6 million, of which 41.3% was from the tools division (2011: 46.0%); 24.2% from the contract manufacturing division (2011: 26.1%); 13.6% from the consumer electronics division (2011: 6.2%); 12.3% from the precision measurement division (2011: 12.5%); and 8.6% from the magnetic technologies division (2011: 9.2%).

In the contract manufacturing division, Pantene Group delivered excellent sales of HK$355.4 million during the Year, representing a 6.8% increase compared to the previous year (2011: HK$332.8 million). Sales shortfalls resulting from reducing demand levels from certain existing customers were offset by securing orders from new customers. In addition, the Group was successful in passing on price increases to customers via the renegotiation of selling prices, controlling expenditure and implementing productivity improvements. In view of the global economic slowdown, UPI will continue to explore new business opportunities by proactive sales and marketing activity and will take all measures to further streamline operational efficiency.

Sales generated from the magnetic technologies division increased 7.2% to HK$127.2 million compared to the previous year (2011: HK$118.7 million). Thanks to new product introduction during the Year, all product groups showed growth in the UK market. The new "Boilermag" domestic filtration unit was launched in the UK in August to extremely positive market feedback and UPI has high expectations for this product in 2013. The division has established a good platform for further growth with a pipeline of new products and by the establishment of distribution networks within Asia and the Eastern Europe market.

Sales in the precision measurement division increased 12.7% to HK$185.6 million compared to last year (2011: HK$164.6 million). This increase was driven by growth in the UK, Germany, China and India. During the Year, core products such as the Bowers 3-point bore gauge and Baty Non-contact Vision Systems reported excellent sales, reflecting the huge demand for high quality measuring instruments by equipment manufacturers. Long lead times on product sourced from China and India, together with the implementation of a new SAP ERP system adversely affected the division but the division started to see benefits from the new system in the second half of the year. In addition, the Bowers MicroGauge was launched during the Year which received an excellent response at two main tradeshows in Germany and USA. The division will continue to focus on sales to the automotive, aerospace and energy sectors.

In the consumer electronics division, the sales revenues of Alford Industries increased 1.5 times to HK$199.4 million compared to the previous year (2011: HK$79.6 million) despite severe market competition. Significantly, the division returned to profitability after sustaining losses in the prior year. This encouraging result was attributable to substantially improved sales of baby monitors in North America. Two new baby monitors with a 3.5" and 2.7" screen and the "Boom Cube", a keychain speaker for use on mobile devices and PCs, were launched, which contributed an additional HK$48 million to sales during the Year.

Revenues in the tools division improved 3.4% to HK$609.0 million during the Year (2011: HK$589.0 million). Overseas markets where Spear & Jackson and Eclipse Tools have presence bounced back and were 22% ahead of the previous year. UK and French garden product sales were affected by poor spring and summer weather in Europe. In addition, hacksaw blade sales shortfalls resulting from manufacturing problems in the PRC, now corrected, were compensated by good trading results from the French arm of the division.

As at 30 September 2012, UPI has a strong financial position with a net cash balance of HK$79.6 million, an increase of 124% over last year (2011: HK$35.5 million). The Group's gearing ratio calculated as net debt to total equity was Nil (as at 30 September 2011: Nil).

About United Pacific Industries Limited

United Pacific Industries Limited ("UPI", "the Group") is a diversified holding company which has been listed on the Hong Kong Stock Exchange since 1994. Its principal operations are in tools, magnetic technologies, precision measurement, consumer electronics and contract electronic manufacturing. The Group has its core operating subsidiaries in the United Kingdom, France, Australia, New Zealand, Canada and the PRC and its products are sold in more than 100 countries around the world.

For more information on UPI, please visit its website at www.upi.com.hk.

Source: United Pacific Industries Limited

Contact:
Quam IR 
Ms Anita Wan    Tel: (852) 2217-2811 	E-mail: [email protected] 
Ms Sharon Au 	Tel: (852) 2217-2812   	E-mail: [email protected]  
Ms Venus Lam	Tel: (852) 2217-2813	E-mail: [email protected]





Copyright 2012 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SOASTA, the leader in performance analytics, today reported record growth of the CloudTest community, exceeding 30,000 registered users of the CloudTest platform in Q1 2015. SOASTA also announced widespread adoption of its Web and mobile testing solutions, with more than 1,600 customers completing more than 285,000 tests using CloudTest during the quarter. This rapid growth shows that DevOps-driven digital businesses are embracing a more continuous approach to testing, and CloudTest is meeting t...
SYS-CON Events announced today that that Innodisk, the service-driven provider of industrial embedded flash and DRAM storage products and technologies, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies. With satisfied customers across the embedded, aerospace and defense, cloud storage markets an...
SYS-CON Events announced today that WSM International (WSM), the world’s leading cloud and server migration services provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. WSM is a solutions integrator with a core focus on cloud and server migration, transformation and DevOps services.
VoxImplant has announced full WebRTC support in the newest versions of its Android SDK and iOS SDK. The updated SDKs, which enable audio and video calls on mobile devices, are now compatible with the WebRTC standard to allow any mobile app to communicate with WebRTC-enabled browsers, including Google Chrome, Mozilla Firefox, Opera, and, when available, Microsoft Spartan. The WebRTC-updated SDKs represent VoxImplant's continued leadership in simplifying the development of real-time communication...
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
SYS-CON Events announced today that Site24x7, the cloud infrastructure monitoring service, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Site24x7 is a cloud infrastructure monitoring service that helps monitor the uptime and performance of websites, online applications, servers, mobile websites and custom APIs. The monitoring is done from 50+ locations across the world and from various wireless carr...
SYS-CON Events announced today that Intelligent Systems Services will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Established in 1994, Intelligent Systems Services Inc. is located near Washington, DC, with representatives and partners nationwide. ISS’s well-established track record is based on the continuous pursuit of excellence in designing, implementing and supporting nationwide clients’ mission-cri...
Sonus Networks introduced the Sonus WebRTC Services Solution, a virtualized Web Real-Time Communications (WebRTC) offer, purpose-built for the Cloud. The WebRTC Services Solution provides signaling from WebRTC-to-WebRTC applications and interworking from WebRTC-to-Session Initiation Protocol (SIP), delivering advanced real-time communications capabilities on mobile applications and on websites, which are accessible via a browser.
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
SYS-CON Events announced today that Tufin, the market-leading provider of Security Policy Orchestration Solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. As the market leader of Security Policy Orchestration, Tufin automates and accelerates network configuration changes while maintaining security and compliance. Tufin's award-winning Orchestration Suite™ gives IT organizations the power and a...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
“With easy-to-use SDKs for Atmel’s platforms, IoT developers can now reap the benefits of realtime communication, and bypass the security pitfalls and configuration complexities that put IoT deployments at risk,” said Todd Greene, founder & CEO of PubNub. PubNub will team with Atmel at CES 2015 to launch full SDK support for Atmel’s MCU, MPU, and Wireless SoC platforms. Atmel developers now have access to PubNub’s secure Publish/Subscribe messaging with guaranteed ¼ second latencies across PubN...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch ...