|
|
|
|
|
HONG KONG, Sept 9, 2009 - (ACN Newswire) - Leeport (Holdings) Limited ("Leeport" or the "Group")(Stock code: 387), which is principally engaged in the distribution of advanced manufacturing equipment, measuring instruments and precision tools for manufacturing industry, today announces its interim results for the six months ended 30th June 2009. During the period under review, the Group's turnover decreased 33.0% to HK$374,675,000 (2008: HK$559,432,000) and the loss attributable to equity holders was HK$18,545,000 (2008: Profit of HK$15,538,000).
The Directors do not recommend an interim dividend (2008: HK$5 cents per share).
The turnover of the Group for Eastern China achieved a significant amount of growth in the first six months of 2009 due to some contracts outstanding that were brought forward from the previous year. The turnover for Northern China was less satisfactory as the decision processes for state-owned companies in the North took longer than for customers in Southern and Eastern China. The turnover in Southern China was much lower than for the same period last year as most of the manufacturers relied heavily on exports. Some manufacturers tried to explore the domestic sales market in China. However, they need more time to make the partial transition from export sales to domestic sales.
In terms of products, the machine tool business recorded a 32.0% decrease as compared with the same period last year; the measuring instruments business recorded a 39.4% decrease as compared with the same period last year; the cutting tools business recorded a 35.1% decrease as compared with the same period last year, and the electronic equipment business recorded 44.8% decrease as compared with the same period last year.
Mr. Joseph Lee, Chairman and Managing Director, Leeport (Holdings) Limited commented: "Despite the present financial crisis, some industries, for example, automobiles, infrastructure and telecommunications, are still showing an appetite for acquiring equipment. The Group's service income has also continued to grow, and the Group has a long-term strategy to increase its service income to complement its total turnover."
The Group foresees there are great opportunities for developing measuring services in the China market. The Group, therefore, has established metrology solution centres in Beijing, Shanghai and Dongguan. These centres provide measuring services and solutions including retrofits, calibration, software upgrade, digitizing, customer training and consultancy, contributing additional income for the Group's metrology division.
"There are signs of improvement after the second quarter of the year. Customers' orders and enquiries are becoming more active," said Mr. Lee. "As the market situation improves and the operating expenses of the Group are reduced, the overall result for the second half of the year is likewise expected to improve."
Contact:
Ophelia Chow
Corporate Communications Manager
Tel: +852 2494 1889
Fax: +852 2418 4689
Email: opheliachow@leeport.com.hk
Topic: Press release summary
Source: Leeport (Holdings) Limited
Sectors: Daily Finance, Engineering
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
