Welcome!

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
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...