Improving sales give Recor a lift
AUDIO-VISUAL products maker Recor Holdings has posted profits of $67.65 million for the year to March, up 20.6 per cent from a year earlier.
The company said product diversification and a rise in the sales of audio and visual products contributed to the profit rise.
Turnover totalled $1.18 billion, up marginally from $1.13 billion a year ago. Earnings per share were 20.2 cents, against 19.5 cents.
Directors recommended a final dividend of five cents per share. No interim dividend was declared.
The company said it was close to finalising a co-operative deal with a major electronic product manufacturer in South Korea to produce video cassette players in China.
The company was listed on the Hong Kong stock exchange last October.
While Europe and South America have been its major markets, the company said it was developing the China market.
