Willas-Array Electronics' full-year profit trebles

Willas-Array Electronics (Holdings) said its full-year net profit almost trebled to HK$112 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 late on Wednesday.

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 52 HK cents 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.

  • AT A GLANCE

  • REVENUE: HK$ 4.56 billion (+17.3%)

    NET PROFIT: HK$ 112 million (198.4%)

    DIVIDEND PER SHARE: 42 HK cents (+35.5%)

The company's board has recommended a final dividend of 42 HK cents a share, which represents a total dividend payout of 28.6 per cent for the 2018 financial year. The dividend last year was 31 HK cents a share.

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.

Willas-Array shares yesterday ended up three cents at $1.17.

A version of this article appeared in the print edition of The Straits Times on June 01, 2018, with the headline 'Willas-Array Electronics' full-year profit trebles'. Print Edition | Subscribe