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Willas-Array full-year profit triples on strong industrial, home appliance and automotive sales
WILLAS-Array Electronics (Holdings) saw full-year net profit more than triple to reach HK$111.96 million (S$19.1 million), on the back of double-digit increases in sales in the group's industrial, home appliance and automotive segments.
The Hong Kong-based distributor of electronics components logged revenue of HK$4.56 billion for the year ended March 31, a 17.3 per cent rise.
The latest results were "its best ever performance since its listing in 2001", the company said in a statement.
Willas-Array, which distributes its products mainly in China, expects domestic demand and the export market to remain strong.
The generally positive outlook bodes well for the group's business, especially its growth segments - automotive and home appliances, which are both expected to have increasing electronic content in tandem with the rising trend of automation, power saving and smart features, the company noted.
Earnings per share for the year came in at HK$1.47, up from HK$0.52 a year earlier.
Net asset value per share was HK$9.38 as at March 31, up from HK$7.65 on the same date last year.
The company's board has recommended a final dividend of HK$0.42 per ordinary share, which represents a total dividend payout of 28.6 per cent for the 2018 financial year. The dividend is payable on Aug 28 subject to approval by shareholders at the group's annual general meeting on July 27.
The board has also proposed a bonus issue of one new share for every 10 existing shares held by shareholders.