UNPREDICTABLE earnings at Ultronics International undermined investors' confidence in the company, causing its share price to plunge more than 80 per cent throughout the year.
The medical equipment distributor underperformed the Hang Seng Index by 75.84 per cent, with its share price sliding from $2.10 in January to 36 cents yesterday.
Analysts said the decline was mainly the result of unpredictable earnings because of tough trading conditions in China.
They also expect Ultronics' sales to be affected by the Chinese Government's austerity programme, which means a burden on spending on medical equipment, deterioration in Sino-American relations and increased competition.
For the six months to June 30, the company recorded an 85.7 per cent drop in net profit to $2.49 million.
Ultronics markets high-technology medical equipment in China.
