Termbray income dips despite turnover rise
TERMBRAY Industries International (Holdings) plugged into the burgeoning computer market with a 29.2 per cent surge in turnover to $973 million in the year to March.
Profit after tax and minority interests fell 4.9 per cent to $72.8 million.
In the printed circuit boards (PCB) unit, one of two core divisions of the company, operating profit rose 31.7 per cent to $91.7 million on turnover up 23.4 per cent to $702 million.
The consumer electronics products division suffered an operating loss of $20.7 million after posting a $10.4 million profit in the previous year. This was despite a 17.6 per cent increase in turnover to $217 million.
Kelvin Wong, general manager of corporate development, said profit had been held back by 'vigorous' competition.
He said the company would benefit from the surge in demand for PCBs resulting from the boom in electronics products.
The company expected to double capacity next year to 10.7 million square feet and push to become the largest multi-layer PCB manufacturer in Southeast Asia, he said.
The company was ranked the second-largest PCB maker last year by MHM Technology Research Centre in Britain.
Mr Wong said increased PCB output would ensure a reliable supply to the company's subsidiaries and minimise operation costs.
'We expect the company to be self-sufficient by the end of 1996,' he said.