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May 13, 2010, 5.58 pm (Singapore time)

Adampak'S Q1 net profit more than tripled

By TEH SHI NING

Adampak Limited's first quarter net profit more than tripled to US$2.3 million, from US$0.6 million in the year-ago quarter.

This came on the back of a 60 per cent jump in revenue from US$9.7 million in Q109 to US$15.4 million for the three months ended March 31.

Recovery in global electronics demand contributed to the revenue increase as sales from its hard disk drive, telecommunications and other electronics segments rose significantly, Adampak said.

Earnings per share for Q1 rose from 0.24 US cents to 0.86 US cents. The Group's net asset value was 15.73 US cents as of March 31.

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ADAMPAK LTD - Singapore's Adampak said on Friday that an estimated loss due to damaged inventories and impairment of fixed assets after the severe flooding in Thailand's Ayutthaya region is around $1.4 million.

The company, which makes labels, nameplates and die-cut parts, said that its Thailand subsidiary had entered into a lease agreement for a new factory site in Amata Nakorn Industrial Estate, Chonburi Province.

Source: Reuters