TOMEI International Holdings has reported a 32 per cent jump in taxed profits to $211.28 million for last year on the back of beefed-up manufacturing and distribution and a sharp rise in contributions from associated companies.
Tomei, which makes audio equipment and components besides its investment activities, is rewarding shareholders with a warrant bonus issue of one for 10 shares.
Earnings per share rose to 29 cents, from 24.6 cents in 1991. A dividend of five cents a share is proposed.
Chairman Johnny Lau Wing-hung said: ''Based on existing orders and new projects on hand, the outlook for the group's audio products and components looks encouraging.
''Given the anticipated satisfactory results from the group's investment strategy along with the significant growth generated from the non-audio areas, the directors are again confident that, in the absence of any unforeseen events, the group should achieve satisfactory sales and earnings growths for 1993.'' Turnover last year climbed 13.99 per cent to $2.77 billion, as the dragging recession in the Western economies, coupled with weak European currencies, took its toll on the sales of consumer goods.
Slight increases in sales of audio products - spearheaded by personal stereos, portable compact disc players and mini CD models - were matched with modest rises in sales of components, up 11 per cent as demand slackened and prices tumbled.
More dramatic returns came in from associated companies, where Tomei last year raked in $22 million, against $8.13 million in 1991.
