Higher sales of thumb drives give leg up to Trek 2000 International's profit

Henn Tan chief executive officer of Trek 2000 - a Singapore-listed company which invented the ThumbDrive. -- ST PHOTO: NURIA LING
Henn Tan chief executive officer of Trek 2000 - a Singapore-listed company which invented the ThumbDrive. -- ST PHOTO: NURIA LING

SINGAPORE - Higher sales has enabled thumb drive and SD card maker Trek 2000 International to more than double its full-year profit.

Net profit rose 152.7 per cent to US$2.5 million (S$3.1 million) as revenue rose 52.8 per cent to US$112.9 million.

The company said the higher turnover was driven by increased demand for its thumb drives, security solutions and SD cards.

The inventor and patent owner of the thumb drive and FluCard, which is a smart SD card, also saw its licensing revenue increase 6.5 per cent to US$2.1 million.

An improvement in sales from third-party licensing customers boosted such revenue.

The company is cautiously optimistic as the consumer electronics market in Asia Pacific is expanding rapidly.

It said it will continue to engage its proprietary technologies in more diverse projects.

Earnings per share was 0.86 US cent, up from 0.34 US cent previously, while net asset value per share was 17.36 US cents, above the 15.54 US cents previously.

A dividend of 0.5 Singapore cent has been recommended. No dividend was declared in the previous year.

Trek 2000 chief executive Henn Tan said: "In order to stay ahead of the industry curve, we look to ride on our current growth momentum and focus our efforts on consumer wearable, medical and cloud technologies.