Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

UniVision Eng Ltd (UVEL)

  Print      Mail a friend

Friday 14 December, 2007

UniVision Eng Ltd

Interim Results

UniVision Engineering Ltd
14 December 2007

                         UniVision Engineering Limited                          

                          ('UniVision' or 'The Group')                          


                                Interim Results                                 

                   For the Six Months Ended 30 September 2007                   

UniVision Engineering Limited, the Hong Kong based Group whose principal
activities are the supply, design, installation and maintenance of closed
circuit television and surveillance systems, and the sale of security related
products, today announces its interim results for the six months ended 30
September 2007

  * Turnover increased by 64% to HK$84m (H1 2006 : HK$51m ).
  * Operating profit up 4.6% to HK$11.3m (H1 2006 : HK$10.8m ).
  * Basic and fully diluted earnings per share of HK$0.026 (H1 2006 : HK$0.026).
  * Strong domestic performance in Greater China Region
  * Chun Hung Wong to take over as Group CEO from 1 Jan 2008 following
    retirement of Stephen Chan

Mr. Stephen Koo, Chairman, added:

'Trading in the first half of the year has been satisfactory. Turnover has
improved considerably with a strong contribution from T.Com Tech and Leader
Smart, acquired in October 2006.

'The Group is currently involved in a number of significant projects which we
expect to come to fruition in the second half of the year and therefore remain
optimistic of a strong trading performance for the year as a whole.'


For further information visit or contact:
UniVision Engineering Limited                            +852 2389 3256
Stephen Koo, Chairman
Danny Yip, Finance Director
HB Corporate                                             +44 (0) 207 510 8600   
Jim McGeever/Rory Creedon
Threadneedle Communications                              +44 (0) 207 936 9605
Graham Herring/Josh Royston

Chairman's Statement

I am pleased to report on the results of UniVision Engineering Limited and its
subsidiary for the six months ended 30 September 2007.

We have been providing our customers with digital surveillance and integrated
security systems - 'total surveillance video solutions' - in the Pacific region
for a number of years and, as our product range and skills base have grown, we
are increasingly able to deliver to clients on a global basis. The acquisition
of a majority shareholding in T-Com Tech. Co. Ltd and the 100% shareholding of
Leader Smart Engineering Co., Ltd to expand our market in PRC has added momentum
to our continued growth.

Our objectives are to further develop our expertise in producing high quality,
reliable and innovative digital video solutions and to consolidate our sales
network throughout the Greater China region and Asia in order to respond to
growing demand in the surveillance industry.


Financial Review

During the period turnover increased by 64% to HK$84m (H1 2006 : HK$51m).

This growth is attributable to additional sales to existing clients, the
improvement in market conditions and also the contribution of our subsidiary,
T-Com Tech. Co. Ltd and Leader Smart Engineering Co., Ltd. which was acquired in
October 2006.

Operating profit increased by 4.6% to HK$11.3m ( H1 2006 : HK$10.8m), whilst net
profit decreased by 3% to HK$9.9m ( H1 2006 : HK$10.2m ) mainly due to the
provision of taxation in the subsidiaries.

Operating profit when reported in Pounds Sterling shows a reduction from £745k
in the first half of 2006 to £722k. This is due to the appreciation of the Pound
Sterling versus the Hong Kong Dollar for the two comparable periods.

Basic and fully diluted earnings per share remained level at HK$0.026 ( H1 2006
: HK$0.026). This is due to the issue of new ordinary shares as part of the
consideration for Leader Smart in October 2006 and the placing in March 2007.

Cash and cash equivalents at 30 September 2007 showed a deficit of HK8.9m. The
Group is currently involved in a large number of significant projects which
require high levels of capex, which is the main reason for the reduction in the
Group's cash balance. We expect these projects to come to fruition in the second
half of this year and therefore remain optimistic of a strong trading
performance for the year as a whole.

Business Review


IP Video provides the CCTV industry with a unique set of tools to improve the
quality of CCTV coverage, which has proved particularly useful for the demands
of the transportation industry, which has used the analogue system for a decade.

Using a Hybrid IP analogue system is the most cost effective way to connect IP
and analogue cameras with CCTV Matrix Controllers and DVS. Hybrid solutions
provide large installed base analogue cameras with a gateway to transmit video
streams from networks and the Internet.

There are considerable opportunities in Greater China which is providing avenues
for the Hybrid solutions. The Group is looking into many different solutions,
including Video compression technology MPEG-4 and H.264, Digital Encoder and
Decoder (CoDec) with built-in video analysis algorithms in the Homeland Security
field such as intruder detection, loitering detection, left behind objects and
trip wire will be the new area of interest.
The Board believes that UniVision will be among the pioneers in providing the
most effective solutions for businesses in the airport, rail and traffic
surveillance industries and we hope to expand our sphere of business


Technologies, Solutions and Products

On the solutions side, an ongoing product development programme is in place to
cater for the needs of the Group's growing client base in the Asia Pacific

The Group's newly developed Digital Video Server with PC and embedded base
solutions came to market in July 2007 and have been used in several projects in
Hong Kong. A new brand name for these products is expected to be announced in
early 2008. A newly developed Video Amplifier with an on-screen display function
was launched at the same time and the first order is due to be implemented into
the CCTV System for the Hong Kong Island Area Traffic Control. We are currently
working on H.264 CoDec with built in video analysis algorithms which we expect
to launch early in the next financial year.

Acquisitions and Investments

The success of our investment in T-Com Tech. Co. Ltd and Leader Smart (Shanghai)
Ltd has reinforced the Group's strategy of acquiring interests in companies with
strategic value. To this end, the Group is currently assessing a number of
companies in related fields with a view to making further strategic investments.

The Board

The Directors are also pleased to announce the appointment and promotion to the
Board, with effect from 1 Jan, 2008, of Mr. Chun Hung Wong to the position of
Chief Executive. Mr Wong, aged 48, is currently the Group's Operations
Director.. Our outgoing CEO, Mr. Stephen Chan, has announced his intention to
retire from 1 Jan 2008.
There is no other information relating to Mr. Chun Hung Wong which would
otherwise fall to be disclosed under the provisions of paragraph (g) of Schedule
2 to the AIM Rules.


The Group's performance domestically has been strong with new revenue streams
from both the public and private sector in the Greater China Region. We are
working with partners in Australia, Thailand, and Dubai in securing product
distribution channels. We continue to enhance our product and application
development programmes. 

The first few months of the current financial year have been very encouraging.
In view of the strong demand for products from our existing customers, and the
positive sentiment and exposure towards the digital surveillance products in
general, the Board is confident of making further significant progress in the
current year. 

Finally, on behalf of the Board, I would like to thank our customers, suppliers
and shareholders for their continued support of UniVision. I would also like to
acknowledge the hard work of the management and all the staff for their
contribution and dedication to the Group.


14 December 2007
Consolidated Income Statement (Unaudited)
For the six months ended 30 September 2007

                                     For the six month ended 30 Sep.
                           2007              2006             2007         2006
                          HK$000            HK$000           £'000        £'000

Turnover                 84,095             51,072           5,377        3,520

Cost of Sales           (63,596)           (31,853)         (4,066)      (2,195)

Gross Profit             20,499             19,219           1,311        1,325

Other Revenue             1,203              1,152              77           79

Distribution Costs         (547)              (418)             (35)        (29)

Administrative Expenses  (9,868)            (9,146)            (631)       (630)

Profit From Operations   11,287             10,807              722         745

Finance Costs              (719)              (600)             (46)        (41)

Profit before taxation   10,568             10,208              676         704

Taxation                    682                                 (44)          -

Profit for the period     9,886             10,208              632         704

Profit attributable to:

Equity holders of the
parent                    9,874              8,406              631         580

Minority Interests           12              1,802                1         124

                          9,886             10,208              632         704

Earnings per Share          HK$                HK$            Pence       pence

Basic and Diluted         0.026              0.026             0.16        0.18

as at 30 September 2007                                                     
                                               As at 30 September                 
                                 2007         2006          2007        2006  
                               HK$000       HK$000         £'000       £'000    
Non-Current Assets                                                          
Plant and equipment             5,253         2,229          333         154
Intangible assets                   0         1,821            0         125
Goodwill                       14,310         4,354          907         300

                               19,563         8,404        1,240         579
Current assets                                                              
Inventories                    17,962        11,795        1,139         813
Due from construction                      
contract customers             17,713        14,017        1,123         966                                            
Trade receivables              58,115        35,201        3,684       2,426
Deposit, prepayment and                                                     
other receivables              16,458        30,471        1,043        2100
Cash and cash       
equivalents                   (8,961)         5,885        (568)         406
                              101,287        97,369        6,421       6,747

Total assets                  120,850       105,773        7,661       7,326

Current liabilities                                                         
Due to construction                                                         
contract customers              1,688         4,077          107         281                                            
Trade payables and       
accruals                       18,682        40,490        1,184       2,827
                               20,370        44,567        1,291       3,108
Total liabilities              20,370        44,567        1,291       3,108
Net Assets                    100,480        61,206        6,370       4,218
Capital and reserves                                                        
Share Capital                  23,980        20,207        1,698       1,451
Share Premium                  31,054        17,177        2,193       1,729
Special Capital Reserve         4,188         2,071          299         143
Retained Earnings              36,147        17,925        2,401       1,225
Exchange Differences              771          (714)        (496)       (193)                                           
                               96,140        56,666        6,095       3,905

Minority Interests              4,340         4,540          275         313
Total equity                  100,480        61,206        6,370       4,218

Consolidated Statement of Changes in Equity (Unaudited)                                             
For the six months ended 30 September 2007   
                   Share       Share    Retained     Special      Exchange       Minority      Total
                 Capital     Premium    Earnings     Capital   Differences      Interests     equity
                   £'000       £'000       £'000       £'000         £'000          £'000      £'000
Balance at 1    
April 2006         1,451       1,279         489         299             95            -       3,613                    
Net profit for    
the period             -           -         579           -              -            -         579
Interest                                                                             313         313
Effect of        
translation            -           -           -           -          (287)            -       (287)
Balance at 30      
September 2006     1,451       1,279       1,068         299          (192)          313       4,218
Issue of shares       
for acquisition                                                                                     
of a subsidiary       23         217           -           -              -          165         405
Issue of shares      
upon placing         224         811           -           -              -            -       1,035
Share issue 
costs                  -       (114)           -           -              -            -       (114)
Net Profit for  
the period             -           -         702           -              -        (193)         509
Effect of         
translation            -           -           -           -          (178)            -       (178)

Balance at 31      
March 2007         1,698       2,193       1,770         299          (370)          285       5,875
Net profit for   
the period             -           -         631           -              -            1         632
Effect of           
translation            -           -           -           -          (126)         (11)       (137)
Balance at 30      
September 2007     1,698       2,193       2,401         299          (496)          275       6,370


UniVision Engineering Limited                                                                                           
Consolidated Statement of Changes in Equity                                                                             
For the six months ended 30 September, 2007                                                                             
                                       Retained   Special Special Exchange            Minority  Total                  
                                       earning/   capital capital
                      Share   Share (accumulated) reserve reserve different sub-total Interest equiv.
                    Capital premium                 'A'     'B'                                 (HKD)
                    HK$'000 HK$'000    HK$'000    HK$'000 HK$'000  HK$'000   HK$'000  HK$'000  HK$'000                 
Balance at 31 March                  
2006 - previously                                                                                                       
reported             20,207  17,177      9,521          -   2,071             48,976            48,976
Recovery of                                                  
provision for bad                                                                                                       
debts                                    (182)        182                          -                 -
Recovery of                                                           
provision for                                                                                                           
obsolete inventories                                1,935                      1,935             1,935

Provision for                                           
inventories                            (1,935)                               (1,935)           (1,935)
Balance at 31
March 2006 -
restated             20,207  17,177      7,404      2,117   2,071        -    48,976        -   48,976
Net profit for                                            
the period                              10,207                                10,208            10,208
Effect of                                                                              
translation                                                          (530)     (530)             (530)
Interest                                                                           -    2,552    2,552
Balance at 30                          
September 2006       20,207  17,177     17,612      2,117   2,071    (530)    58,654    2,552   61,206
Issue of shares                           
for acquisition                                                                                                         
of a subsidiary                                                                                                         
undertaking             335   3,165                                    530     4,030             4,030
Issue of shares                         
upon placing          3,438  12,475                                           15,913            15,913
Share issue                                   
cost                        (1,763)                                          (1,763)           (1,763)
Net profit for                                             
the year                                 8,661                                 8,661    1,776   10,437
Effect of                                                                                 
translation                                                             21        21                21
Balance at 31                          
March 2007           23,980  31,054     26,273      2,117   2,071       21    85,516    4,328   89,844
Net profit for                                             
the year                                 9,874                                 9,874       12    9,886
Effect of                                                                                
translation                                                            750       750               750
Balance at 30                         
Sept., 2007          23,980  31,054     36,147      2,117   2,071      771    96,140    4,340  100,480

CONSOLIDATED CASH FLOW STATEMENT                                                                                        
For the six months ended 30 September 2007                                                                            

                                                                       GBP Rate:    GBP Rate: 
                                                          GBP 15.773       14.51        14.51    

                                                    2007        2006        2007         2006
CASH FLOW FROM OPERATING ACTIVITIES               HK$000      HK$000       £'000        £'000                           
Profit / (loss) before taxation                   10,568      10,208         676          704                           
Adjustments for:                                                                                                        
Depreciation                                         577         291          37           20                           
Admission to AIM costs                                                                                                  
impairment of Goodwill                                                                                                  
Reversal of provision for bad debts                                                                                     
Provision for obsolete inventories                                                                                      
Written back on trade payables and                                                                                      
Gain on disposals of plant and equipment                                                                                
Interest income                                                                                                         
Interest expenses
Operating profit / (loss) before working                                     
capital changes                                   11,145      10,499         713          724
Decrease/(increase) in inventories               (2,469)     (3,796)       (157)        (262)                           
Decrease/(increase) in accounts                                            
receivable                                      (24,773)         119     (1,570)            8
Increase in amounts due from construction                                                
contract customers                                 1,511                      96
Decrease in retention receivables                                                                                       
Decrease/(increase) in deposits, prepayments                                   
and other receivables                                320    (12,201)          20        (841)
Increase in amount due from a related                                                       
company                                             (26)         (1)         (2)
(Increase)/decrease in amount due from                                                                                  
an associate                                                                                                            
(Decrease)/increase in amounts due to construction                                                                      
contract customers                                                                                                      
(Decrease)/Increase in amounts invest to                                                  
contract                                                       5,829                      402
(Decrease)/Increase in accounts payable                                         
and accruals                                         289     (1,052)          19         (73)
Decrease/(Increase) in investment in                                                       
Securities                                                      (17)                      (1)
Decrease in amount due to a related                                                                                     
Effect of changes in foreign exchange              1,052         764          61           53                           
Net cash (used in)/from operations              (12,951)         144       (820)           10                           
Tax paid                                           (682)                    (44)                                        
Net cash inflow from operating                                             
activities                                      (13,633)         144       (864)           10                           
CASH FLOWS FROM INVESTING ACTIVITIES                                                                                    
Purchases of plant and equipment                   (593)       (326)        (38)         (22)                           
Acquisition of intangible assets                                                                                        
Acquisition of an associate                                                                                             
Investment in associate (NOTE 1)                             (5,912)                    (407)                           
Proceeds from sales of plant and                                                                                        
Interest received                                                                                                       
Receipts from disposal of a subsidiary                                                                                  
(Increase)/decrease/ in pledged deposits                     (4,306)                    (297)                           

Net cash from/(used in) investing                                             
activities                                         (593)    (10,544)        (38)        (726)
CASH FLOWS FROM FINANCING ACTIVITIES                                                                                    
Interest paid                                                                                                           
Dividend paid                                                                                                           
Proceeds from issuance of share capital                                                                                 
Proceeds from bank loan                                                                                                 
Proceeds from finance leases                                                                                            
Payment of finance lease liabilities                                                                                    
Payment of bank loan                                                                                                    
Payment of other loan                                                                                                   
Payment for Legal fee- IPO & OTHER                                            
EXPENSE                                            (302)       (536)        (19)         (37)
Minority Interest                                            (4,540)                    (313)                           
Repayment of amount due to immediate                                                                                    
holding company                                                                                                         
Payment of amount due to ultimate            
holding company                                                                                                         
Net cash generated from/(used in) financing                                   
activities                                         (302)     (5,076)        (19)        (350)
NET INCREASE IN CASH AND CASH                                              
EQUIVALENTS                                     (14,528)    (15,476)       (921)      (1,066)
EFFECT OF CHANGES IN FOREIGN EXCHANGE                                        (9)                                        
CASH AND CASH EQUIVALENTS AT BEGINNING OF                                     
PERIOD                                             5,567      21,361         362        1,472
CASH AND CASH EQUIVALENTS AT END OF                                         
PERIOD                                           (8,961)       5,885       (568)          406
NOTE (1)                                                                                                                
Cash consolidation                                             7,350                      507                           
balance and cash acquired                                    (1,438)                     (99)                           
cash flow on business combination , net of                                    
cash acquired                                          0       5,912           0          407


Notes to the Interim financial statements for the six months ended 30 September

1. Basis of preparation

The unaudited interim financial statements for the six months ended 30 September
2007 have been prepared under International Financial Reporting Standards
('IFRS') using the policies consistent with those applied to the annual
financial statements for the year ended 31 March 2007 The interim financial
statements, together with the comparative information contained in this report
for the six months ended 30 September 2007, does not constitute the statutory
accounts of the Company.

2. Earnings per share

The calculation of basic and diluted earnings per share is based on the net
profit attributable to equity holders of the parent for the period ended 30
September 2007 of HK$8.4m (2006 : HK$9.8m), and the weighted average of
383,677,323 ( 2006 : 323,313,333) ordinary shares in issue during the period.

There were no potential dilutive ordinary shares outstanding during the period 
(2006 : Nil )

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

a d v e r t i s e m e n t