Singapore stock market and companies daily report

Hour Glass Delivers Record Profit On Higher Margins

Luxury watch group The Hour Glass delivered a record profit for the full year ended 31 Mar-11, with the bottom line jumping 29.1% from $32.8m to $42.4m. This in turn brings earnings per share to 18.1 cents, up from the previously 14.1 cents. The improvement was underpinned by the higher revenue, which climbed 7% from $483.7m to $517.6m, attributed to the expansion of its multi-brand retail network. For the year, gross margins grew from 20.1% to 22.4%, due to the implementation of various marketing programmes as well as more positive trading conditions. A first and final dividend of five cents has been recommended.
Significance: According to its website, The Hour Glass has boutiques in Australia, Hong Kong, Japan, Malaysia, Singapore and Thailand. Demand for timepieces in the region, with the exception of Japan, is likely to be sustained. The company however cautions that inflationary pressures could drive up operating costs, ‘especially those related to personnel and rental’.



Valuetronics’ Full Year Profit More Than Doubles

Valuetronics Holdings (Valuetronics), an integrated electronics manufacturing service provider, reported a delightful set of full year results for the period ending 31 Mar-11. Revenue spiked substantially by 73.4% from HK$1.1b to HK$2b, leading profit to more than double from HK$58.8m to HK$121m. Improvement was seen in revenue contribution of both original equipment manufacturer (OEM) and original design manufacturer (ODM) business segments, which were boosted by increased sales orders and launch of new products from major customers. The company has proposed a first and final dividend of 14 HK cents per share for the year.

United Envirotech’s FY11 Profit Climbs 7.8%

United Envirotech posted a profit increase of 7.8% from $14.9m to $16m for the financial year ended 31 Mar-11. The top line rose 12.8% from $69m to $78m, supported by growth in the engineering and treatment segments. Revenue from the engineering business grew 9.2% to $62m, however its segmental profit contribution shrank $5.5m or 38.7% to $8.7m due to changes in the contract mix. Revenue from the treatment business jumped 29.9% to $16m underpinned by the increased treatment capacity at the current plants, its profit contribution continued the uptrend by rising $1.1m or 14.7%. For the year, a final dividend of 0.30 cents has been declared.