Brief: Stella International Holdings Posts FY Revenue $1,544.8 Mln

Stella International Holdings

19/03/2020 13:59

March 19 (Reuters) - Stella International Holdings Ltd
 1836.HK :
    * REVENUE FOR YEAR US$1,544.8 MILLION VERSUS US$1,588.6
MILLION
    * FINAL DIVIDEND WAS PROPOSED TO BE HK45 CENTS
    * FY NET PROFIT FOR YEAR INCREASED BY 54.2% TO US$95.9
MILLION
    * EXPECTS CAPITAL REQUIREMENTS TO REMAIN MODEST IN 2020
    * FY SHIPMENT VOLUMES AND ASP FOR 2020 WILL DEPEND
PREVAILING
EXTERNAL HEADWINDS, INCLUDING IMPACT OF COVID-19
    * SHUT DOWN MANUFACTURING OPERATIONS IN PHILIPPINES FOR
AROUND
MONTH FOLLOWING GOVERNMENT'S DECISION TO CONTAIN COVID-19 VIRUS
    * RELOCATED ORDERS ASSIGNED IN PHILIPPINES TO FACTORIES IN
OTHER
COUNTRIES
    * RECENTLY FINALISED PLANS TO EXPAND MANUFACTURING FOOTPRINT
IN
SOUTHEAST ASIA BY ADDING NEW LOCATION IN INDONESIA IN 2020
    * WILL CONTINUE TO MAINTAIN STRICT COST CONTROL MEASURES,
SUCH AS
CLOSELY MANAGING HEADCOUNTS

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS6LTPlY
Further company coverage:  1836.HK 

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