TEAM Concepts Holdings' net profit fell 40 per cent for the year ended March 31 to $20.14 million due to poor market conditions in Europe. Earnings per share slumped 43 per cent to 9.92 cents. A final dividend of 1.5 cents a share was announced, against three cents in the previous period. The register of members closes on September 16. Turnover was up 11 per cent to $631.33 million. Chairman Allan Chu Chi-wai said: ''Since the beginning of 1994, there have been mixed signs regarding recovery in the worldwide economy. ''Competition in the main European markets on telecommunications products is keen.'' He said the launch of the new 900MHz digital cordless phone in the United States and Europe by early 1995 was expected to improve turnover and profit. ''Overall, we are cautiously optimistic about our 1994-1995 performance,'' said Mr Chu. In October last year, the group issued 37.5 million shares at $1.48 each to raise more working capital. In June this year, the Dongguan production plant was completed and operations commenced as planned, said Mr Chu.