Fujikon profits almost doubled in 3Q12

Net profit margins up 8.1%.

Hong Kong electro-acoustic products designer and manufacturer Fujikon Industrial Holdings today announced its unaudited interim results for the six month ended 30 September 2012 (“1H FY2012/13”), showing a strong recovery of profitability with profit attributable to equity holders up by 7.9 times to HK$68.1 million and net margin substantially rising by 6.9 percentage points.

During 1H FY2012/13, Fujikon’s efforts to reposition the business to focus on the high-end market segment started to bear fruit. Driven by increasing orders from both new and existing clients, the Group recorded revenue of HK$845.1 million, up by 28.1% and gross profit almost doubled to HK$183.9 million over the corresponding period last year.

Gross profit margin climbed by 7.5 percentage points to 21.8%, mainly attributed to the reduction of lower margin products, as well as external factors such as a modest appreciation of the Renminbi and lower material costs. In line with the substantial growth in net profit, basic earnings per share rose 7.9 folds to HK16.59 cents.