Analysts see US$11.7m VTech profit

PUBLISHED : Monday, 24 June, 2002, 12:00am
UPDATED : Monday, 24 June, 2002, 12:00am

Consumer electronic goods maker VTech is expected on Wednesday to post a net profit of US$11.7 million for the year to March 31, according to analysts.

The main-board-listed company - one of the largest cordless-phone makers in the world - is estimated to have recorded the US$11.7 million net profit, according to the consensus estimate of 11 brokers polled by Thomson Financial First Call.

The company also makes electronic hearing devices for children.

This compares with a net loss of US$215 million in the previous financial year, when the company was forced to take US$110.4 million in charges relating to restructuring and asset impairment following the US$113.32 million acquisition of the loss-making Lucent operations in March 2000.