DGAP-News: Greater China Precision Components Ltd.: Final report of 2011 and outlook for 2012
(firmenpresse) - DGAP-News: Greater China Precision Components Ltd. / Key word(s):
Final Results/Forecast
Greater China Precision Components Ltd.: Final report of 2011 and
outlook for 2012
02.05.2012 / 19:00
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GCPC Greater China Precision Components Ltd.
- Revenue RMB 589.6 Mio. (EUR 72.2 Mio.); an increase of 93.3% compared
to 2010
- Net profit RMB 60.4 Mio. (EUR 7.4 Mio.); an increase of 82.8% compared
to 2010
GCPC / 2011 Final Results
SINGAPORE/HUIZHOU, 2 May, 2012: GCPC (ISIN SG9999005052 / WKN A0MZS3 /
Ticker 49G) publishes final report of 2011 and outlook for 2012.
GCPC achieved a 93.3% increase in sales from RMB 305.1 Mio. in 2010 to RMB
589.6 Mio in 2011. The increase was mainly attributed to a new customer
with an international brand which contributed significantly to the total
sales of the tablet casings segment.
Gross profit and gross profit margin were RMB 160.9 Mio. (2010: RMB 65.9
Mio.) and 27.3% (2010: 21.6%)respectively. The increase in gross profit
margin was mainly attributed to the contribution from the high end product
offerings, which command better gross margin that formed a higher
percentage of the total sales in 2011.
In 2011, net profit for the year achieved a 82.8% increase to RMB 60.4 Mio
compared to RMB 33.0 Mio in 2010. The increase is in line with the good
sales performance of the tablet casings segment.
GCPC reported a Basic EPS of RMB 2.33 (2010: RMB 1.26).
The Board of GCPC recommends to pay a final dividend of RMB 0.38 per share
(before withholding tax where applicable) for FY 2011.
Outlook
GCPC's strategy to change its product mix by focusing more on high end
products has yielded good results and that was reflected in the higher
gross profit margin achieved in 2011. GCPC will continue with this strategy
in 2012.In this regard, GCPC intends to increase the capital expenditure
accordingly.
However, intense competition within the handset industry is expected to
continue to put pressures on our average selling prices. Additionally,
rising labor costs is expected to pose challenges to GCPC.
GCPC will continue to pursue more international handset vendors by
establishing direct working relationships with them.
In view of all the above and despite the uncertain global economic outlook,
GCPC is cautiously optimistic that the revenue and net profit for 2012
could still achieve good growth compared with 2011.
For detailed information on GCPC please visit www.greater-cpc.com.
The Board of Directors / Singapore, 2 May 2012
GCPC's key figures for 2011 at a glance (in RMB Mio.):
(Conversion rate used is 1 Euro=8.1625 RMB per 30/12/2011)
2011 2010 Change %*The calculation of the basic EPS for 2011 and 2010 is based on the
-------------------------------------------------- ------- ------- ------
Sales RMB 589.6 305.1 93.3
Earnings before interest and taxes
(EBIT) RMB 76.9 38.4 100.2
Net profit RMB 60.4 33.0 82.8
Basic earnings per share (EPS) RMB 2.33 1.26 84.9
Gross profit margin % 27.3 21.6 26.4
Net profit margin % 10.2 10.8 (5.6)
Depreciation RMB 26.3 20.826.3
Capital expenditures RMB 55.7 30.4 83.3
Number of employees (Monthly Average) 3,026 2,200 37.5
Average number of shares (million) 25.9 26.3 -1.5
2011 2010 Change %
Cash&bank balances RMB 20.7 43.0 -51.9
Other current assets RMB 517.5 222.1 133.0
Non-current assets RMB 288.7 260.4 10.8
Current liabilities RMB 335.1 86.0 289.8
weighted average number of ordinary shares in issue of 25,903,493 and
26,302,752, respectively.
Financial Calendar
- Investor conference, Frankfurt, 8 May 2012
- Annual General Meeting, Huizhou, 28 June 2012
- Half year report 2012: 2 Sept. 2012 (www.greater-cpc.com)
Forward-looking statements:
This press release contains statements about future developments that are
based on currently available information and may involve risks and
uncertainties, the result of which may be that the actual results differ
from the forward-looking statements. Statements about future developments
must not be understood as guarantees. Future developments and results
rather depend on a variety of factors, they contain various risks and
imponderabilities and are based on assumptions that might turn out to be
incorrect. For example, these include unforeseeable changes of the general
political, economic, and social conditions.
About GCPC
GCPC (www.greater-cpc.com; ISIN: SG9999005052, Ticker: 49G) is one of the
leading one-stop providers of mobile handset casings in China. GCPC's
primary business is the manufacturing of mobile handset casings and tablet
casings. As a one-stop service provider, GCPC provides its customers with
services, such as product design development, molding and prototyping, raw
materials and components procurement, plastic injection, spray painting and
assembling services. Substantially all of its products are sold to
customers with domestic and international brands directly or through
electronics manufacturing service providers. GCPC does not manufacture
products under its own brand. GCPC operates its business primarily through
its subsidiary, Green Precision Components (Huizhou) Co., Ltd in Huizhou
City, Guangdong Province, China.
End of Corporate News
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Language: English
Company: Greater China Precision Components Ltd.
7 Temasek Boulevard #13-02 Suntec Tower One
038987 Singapur
Singapore
Phone: +65 6339 9866
Fax: +65 6332 1169
E-mail: investor(at)greater-cpc.com
Internet: www.greater-cpc.com
ISIN: SG9999005052
WKN: A0MZS3
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart;
Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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