VTech Announces FY2012 Annual Results
Record Revenue for the Second Consecutive Year
HONG KONG, May 23, 2012 /PRNewswire-Asia-FirstCall/ —
- Group revenue increased by 4.2% to US$1,784.5 million
- Profit attributable to shareholders of the Company declined by 5.0% to US$191.9 million
- Strong balance sheet, with deposits and cash of US$326.5 million
- Final dividend of US60.0 cents per ordinary share, giving a total dividend for the year of US76.0 cents, a decrease of 2.6% over the previous financial year
VTech Holdings Ltd (HKSE: 303) today announced its results for the year ended 31 March 2012, reporting record revenue for the second consecutive year.
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Group revenue for the year ended 31 March 2012 increased by 4.2% over the previous financial year to US$1,784.5 million. This was mainly due to higher revenue in North America and Europe, as both Electronic Learning Products (ELPs) and Contract Manufacturing Services (CMS) recorded growth in these two regions.
Profit attributable to shareholders of the Company declined by 5.0% to US$191.9 million. The decrease in profit was mainly attributable to higher input costs as well as lower revenue from Telecommunication (TEL) products. Basic earnings per share consequently decreased by 5.5% to US77.0 cents, compared to US81.5 cents in the financial year 2011.
The Board of Directors has proposed a final dividend of US60.0 cents per ordinary share. Together with the interim dividend of US16.0 cents per ordinary share, this gives a total dividend for the year of US76.0 cents per ordinary share, a decrease of 2.6% over the previous financial year.
“I am pleased to report that in our 35th anniversary year, VTech delivered record revenue for the second straight year amid macro-economic uncertainties. In the financial year 2012, rising input costs posed the biggest challenge to the Group. Raw material prices increased substantially, compounded by rising labour costs and Renminbi appreciation in China. To cope with this, we have raised prices, stepped up cost reduction and improved efficiency through increased automation and product optimisation. Although we were unable to offset the entire cost pressure during the year, we managed to mitigate it to a great extent. This will improve the Group’s ability to achieve future growth,” said Mr.
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