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2009-6-15 03:34:00 p.m. HKT, XFNA
DJ MARKET TALK: VTech +2.0%; FY Results, Dividend Awaited
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| 1524 [Dow Jones] VTech (0303.HK) +2.0% at HK$40.30 ahead of FY results due after market close; apart from bottom-line, dividend payout keenly watched given stock's rich historic yield of 12.2%. Kim Eng forecasts net profit (excluding forex losses) down 19% on-year at US$166 million, vs Thomson Reuters poll of 4 analysts pegging US$152.2 million; tips final dividend of 26.2 U.S. cents or roughly HK$2/share. Kim Eng expects Electronic Learning Products division would suffer most due to slowing economy, while Telecom Products, Contract Manufacturing Services will maintain relatively stable; market share expansion of TEL, CMS "should partially offset the adverse impact from the slowing economy."(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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