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2002-9-30 11:06:00 a.m. HKT, XFNA
VS Intl FY result improves as electronic product manufacturing unit sales rise
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HONG KONG (AFX-ASIA) - V.S. International Group Ltd (1002.HK) said its
year to July net profit rose to 65.791 mln hkd from 41.642 mln a year
earlier, reflecting a 45.91 pct rise in sales to 932.630 mln hkd.
In a statement, the company attributed the sharp rise in sales to a
considerable improvement in revenue from its electronic product manufacturing
division, which rose to 545.21 mln hkd against 290.31 mln a year earlier.
The company's plastics injection moulding operations reported sales of
352.15 mln, up from 310.59 mln, representing 37.76 pct of the total turnover.
V.S. International said the net profit reported for the period was
consistent with the profit forecast stated in its prospectus.
Looking ahead, the company said while international crude oil prices are
likely to fluctuate going forward as a result of political unrest in the
Middle East, it has taken steps to mitigate the impact of price movements.
At the end of the reporting period, the company's gearing ratio stood at
35.27 pct, against 39.49 pct a year earlier.
lyndal.mcfarland@afxnews.com
lmf/jtz
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