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Giant Wireless Head Up?
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tyh1972
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31-May-2007 21:56
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Giant Wireless - To change sales mix to focus on higher margin goods Serene Lim, 30 May 2007 Giant Wireless says it intends to change its sales mix to focus on higher margin products for FY 2008. It has also teamed up with an European mobile phone player to develop 3G products, which is expected to be rolled out by end 2007. The company reported an 8.9% decrease in FY 2007 revenue to HK$4.03 bln, due to the poor performance of Push to Talk phonese, cordless phones and FRS. Wireless headsets sold better though. It also started making GSM phone products during the year and those contributed HK$14.9 mln to turnover. Net profit was at HK$44.6 mln compared to the net loss of HK$146.5 mln in FY 2006. The business generated HK$41.1 mln in cash from operations compared to the HK$57.8 mln it made in the previous year. The stock was last done at S$0.17, up 2.9%. |
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