Trading Update

RNS Number : 7515Z
UniVision Engineering Ltd
31 May 2016
 

31 May 2016

UniVision Engineering Limited

("UniVision", the "Company" or the "Group"))

Trading update

UniVision, the AIM quoted, Hong Kong based designer and installer of digital surveillance and integrated security systems sets out  the current performance of its Taiwanese subsidiary below.

UniVision currently own a 52.25% interest in T-Com Technology Co. Ltd (T-Com), its Taiwanese subsidiary. Per the announcement dated on 3 December 2015, T-Com recorded an operating loss for the six months ended 30 September 2015. As the operations and trading results have continued to deteriorate in the second half year (i.e. October 2015 to March 2016), T-Com recorded a substantial operating loss TWD25.5m (approx. HKD6.2m) for the financial year ended 31 March 2016. It was mainly as a result of 52 per cent decrease in construction revenue, significant decrease in gross profit ratio and one-off liquidated damages TWD4.8m (approx. HKD1.2m) paid to a local customer.

 

The Board anticipates that the results of T-Com will adversely affect the Group's profit attributable to shareholders for the financial year ended 31 March 2016.

 

Financial information and other details of the Group will be disclosed in the announcement of Annual Results of the Group for the financial year ended 31 March 2016 which are expected to be released in August 2016.

 

For further information visit www.uvel.com or contact:

 

UniVision Engineering Limited                                        Tel: +852 2389 3256

Stephen Koo, Chairman                                                               www.uvel.com   

Chun Pan Wong, Chief Executive Officer

Danny Kwok Fai Yip, Finance Director

Nicholas Lyth, Non-Executive Director                               +44 (0) 7769 906686

 

ZAI Corporate Finance Limited

(Nominated Adviser and Broker)                             Tel: +44 (0)20 7060 2220  

Dugald J. Carlean /Tim Cofman/Songdi Lin                                               www.zaicf.com           

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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