One of the first companies listed on the Growth Enterprise Market, 21-year-old Timeless Software, was the first to face share disposal by substantial shareholders after the six-month share lock-up period to June last year.
Timeless recorded a profit of HK$33.7 million in the nine months to December 31, from HK$11.92 million in the previous year. Earnings per share were 4.49 HK cents, but no interim dividend was declared.
The company's stock has been assessed as having little potential in a recent J P Morgan Research report.
While third-quarter sales jumped 95.4 per cent quarter-on-quarter on the back of strong hardware and software segment contribution, higher margin component fees from computer consultancy lagged from a general slowdown in dotcom business, said the report.
Company plans to expand into the North American market are seen as incurring heavy expenditure where gains, if any, will be seen in the longer term.
Graphic: now25gwz
