VTech Announces FY2015 Annual Results
VTech Holdings Limited (HKSE: 303) today announced its results for the year ended 31 March 2015, reporting a decline in revenue and profit.
Group revenue for the year ended 31 March 2015 declined by 1.0% to US$1,879.8 million. The decrease was mainly due to lower revenue in North America, which offset higher revenue in Europe, Asia Pacific and Other Regions.
Profit attributable to shareholders of the Company decreased by 2.8% to US$198.1 million, as gross profit declined because of a change in product mix and the weaker-than-expected performance of children’s educational tablets. Basic earnings per share fell by 3.0% to US78.9 cents, compared to US81.3 cents in the previous financial year.
The Board of Directors has proposed a final dividend of US61.0 cents per ordinary share, providing a full-year dividend of US78.0 cents per ordinary share, a 2.5% decrease over the US80.0 cents per ordinary share declared in the financial year 2014.
“In the financial year 2015, VTech continued its drive for product innovation and expanded its presence in existing and new markets, while continuing to raise levels of productivity. Telecommunication products returned to growth and contract manufacturing services again performed well. However, electronic learning products faced challenges in the children’s tablet market, affecting the Group’s revenue and profitability,” said Mr. Allan Wong, Chairman and Group CEO of VTech Holdings Limited.