Welcome!

Microsoft Cloud Authors: Stackify Blog, Liz McMillan, David H Deans, Automic Blog, Pat Romanski

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.

@ThingsExpo Stories
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...