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Sky Light Announces Strong 2015 Interim Results
- Revenue Surged 87.3% to HK$1,299.4 Million;
- Net Profit Soared 99.5% to HK$96.4 Million;
- Home Imaging and Smart Wearable Products to be Future Growth Drivers
HONG KONG, Aug 28, 2015 - (ACN Newswire) - Sky Light Holdings Limited ("Sky Light" or the "Group") (stock code: 3882), a leading digital imaging device and solutions provider for the action camera industry and an important player in the home imaging industry, has announced its first unaudited interim results for the six months ended 30 June 2015 ("2015 Interim Period") since its listing on the Main Board of the Stock Exchange of Hong Kong Limited ("HKSE") on 2 July 2015.
Financial Highlights
- Turnover for the first half of 2015 was HK$1,299.4 million, representing a year-on-year increase of 87.3%.
- Profit for the period attributable to owners surged by 99.5% year-on-year to approximately HK$96.4 million.
- Revenue of action camera and accessories grew 64.8% from HK$602.3 million to HK$992.7 million.
- Revenue of home imaging products soared from HK$618,000 to HK$183.3 million.
- Interim dividend of HK6.0 cents per ordinary share
During the period under review, the Group's revenue surged by 87.3% over the same period last year, to approximately HK$1,299.4 million (2014: HK$693.6 million). Such significant increase is mainly attributable to an increase in sales of action cameras which was primarily due to the launch by a major customer of a new camera model in the first half of 2015; and the Group's new home imaging products recorded revenue of HK$183.3 million, which represents 14.1% of the Group's total revenue.
During the 2015 Interim Period, the Group's gross profit increased by 71.9% to HK$245.0 million (2014: HK$142.5 million), while profit for the period attributable to owners soared by 99.5% year-on-year to approximately HK$96.4 million (2014: HK$48.3 million).
The Board proposed an interim dividend of HK6.0 cents per ordinary share for the six months ended 30 June 2015.
Mr. Tang Wing Fong Terry, Chairman of Sky Light, said, "We are pleased to announce our first interim results after listing on the HKSE. The capital raised from the listing has established a strong financial platform for the Group's development. During the first half of 2015, both revenue and net profit have risen rapidly thanks to the significant revenue growth of action camera products and with home imaging products also playing an increasingly important role. Sales of the new home imaging products have skyrocketed from HK$618,000 to HK$183.3 million. Our efforts to consolidate our leading market position and expand our product portfolio have forged a firm foundation for the Group's future development. Apart from action camera products, as home imaging and smart wearable industries are set for rapid expansion, we expect these new products to be our future growth drivers and become a significant source of revenue for our business."
Business Review
Action Camera and Accessories Products
Since the Group entered into the action camera market in 2005, it has been successful in pioneering the design and development of these products. Riding on the considerable market growth and its stable market position, revenue of action camera and accessories continued to grow from HK$602.3 million to HK$992.7 million and was the main revenue contributor accounting for, 76.4% of the Group's total revenue for the 2015 Interim Period.
Home Imaging Products
During the period under review, in cooperation with existing and new customers the Group has successfully engaged in business for its newly developed cloud camera, its first home imaging product which began commercial shipment in the third quarter of 2014. Revenue contributed from home imaging products grew from HK$618,000 to HK$183.3 million, accounting for 14.1% of the Group's total revenue. The significant sales growth of the new business achieved during the first year of 2015 was mainly attributable to the Group's focus on high-end products designed for U.S. clients.
Digital Imaging Products and Others
As at 30 June 2015, The Group's digital imaging business has remained stable in terms of sales, owing to steady demand from its existing customers. In addition, the Group's smart wearable products commenced shipment in June 2015. Revenue contributed from digital imaging products and other products under the review period was HK$89.8 million (2014: HK$82.7 million) and HK$33.5 million (2014: HK$8.0 million) respectively, which accounted for 6.9% and 2.6% of the Group's total revenue respectively.
Prospects
The Group will continue to develop innovative products by further investing in product planning and research and development capabilities. It will also upgrade and increase its production capacity to meet the rising demand from customers so as to maintain its leading market position and expand its product portfolio.
To strengthen relationships with its major customers and further expand its customer base, the Group has strategically collaborated with its largest customer in becoming a comprehensive smart imaging devices and solution provider. Meanwhile, the Group is able to offer home imaging products with higher definition, better storage and connectivity, with strong potential for growth as an increasing number of users are buying smart home cameras for home surveillance, as well as for care of children and the elderly. Furthermore, the Group continues to introduce new niche cameras for the digital imaging business, such as car camcorders, police cameras and other cameras that are designed for specialized use and which would provide synergies with existing business.
With the ever-changing behavior and culture, smart wearable devices are expected to be one of the fastest-growing consumer products. The Group intends to develop new house brands for smart wearable products in the future and to provide parts and components or a full package of smart wearable devices to our existing and new customers, in order to realize further diversification and growth.
Mr. Tang Wing Fong Terry concluded, "Our strategies have proven effective in recent years enabling us to remain profitable. We believe that we are moving in the right direction for future development and remain committed to develop innovative and competitive products that will further cater to the diversified needs of customers and generate sustainable returns for shareholders."
Contact:Strategic Financial Relations Limited
Heidi So Tel: +852 2864 4826 Email: heidi.so@sprg.com.hk
Samantha Yeung Tel: +852 2114 4916 Email: samantha.yeung@sprg.com.hk
Stephanie Liu Tel: +853 2864 4852 Email: stephanie.liu@sprg.com.hk
Source: Sky Light Holdings Limited
Sectors: Electronics, Daily Finance
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