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2009-2-26 09:05:00 a.m. HKT, XFNA
DJ MARKET TALK: Meadville May Outperform;FY Profit Up, China Play
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| 0856 [Dow Jones] Meadville (3313.HK) may outperform, after its 2008 net profit +18% on-year at HK$402.47 million (beats 7.5% decline tipped by Kim Eng), with revenue +25.3% at HK$5.63 billion, due to rise in telecommunications infrastructure spending on mainland, Beijing's policy of encouraging development of high-technology industries. Final dividend at 1.4 HK cents. Heavy reliance on China market (about 64% sales derived from China 2008) helps it avoid slump suffered by many export-oriented manufacturers as global demand shrank. Company says it's likely to increase its business in China due to continuous infrastructure spending, according to SCMP. Stock ends +3.5% at HK$0.88 Wednesday.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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