Last checked at 31 May 2016 12:39
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