Brief: ASM Pacific Technology Posts 2019 Net Profit Of HK$622.4 Mln

ASMPT

25/02/2020 23:02

ASM Pacific Technology Ltd  0522.HK :
    
    ** 2019 NET PROFIT OF HK$622.4 MLN, DOWN 071.9% OVER 2018
    ** TOTAL DIVIDEND PAYMENT FOR YEAR 2019 WILL BE HK$2.00 PER 
   SHARE
    ** 2019 GROUP REVENUE OF US$2.03 BLN, DOWN 18.8% OVER 2018
    ** ANTICIPATE CO WILL LOSE AROUND 1/3 OF PRODUCTION
CAPACITIES IN CHINA IN Q1 2020
    ** ANTICIPATE Q1 2020 GROUP REVENUE WILL BE IN RANGE OF
BETWEEN US$370 MLN TO US$450 MLN
    ** EXPECTS GROUP WILL RECORD LOSS FOR Q1 2020
    ** GROUP'S MANUFACTURING AND SALES OPERATIONS AND SUPPLY
CHAINS WERE DISRUPTED AS A RESULT OF COVID OUTBREAK
    ** STILL CAUTIOUSLY OPTIMISTIC THAT Q1 2020 GROUP BOOKING
WOULD ACHIEVE A YOY GROWTH
    ** RELOCATION OF LEAD FRAME OPERATIONS STARTED IN Q1 2020
AND IS EXPECTED TO COMPLETE BY MID-2021
    ** GROUP ALSO DECIDED TO DISCONTINUE MIS BUSINESS IN Q1 2020

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS5kCQM3
Further company coverage:  0522.HK 
    

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