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Sustained demand for laboratory equipment boosts Techcomp’s 1H2009 revenue 25% to record US$40 million (13 Aug 09)

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  • Revenue: +25.4%
  • Net Profit: +75.7%
  • Press Release: Net profit jumps 75.7% to US$1.4 million on good cost management
  • Made inroads in Indian, Indonesian and French markets in 1H2009 with contributions to come in 2H2009
  • Management expects seasonal trend of a stronger 2H2009
    Outlook: The Group anticipates that the market demand in PRC will continue to stay buoyant.
  • It also anticipates that the seasonal trend of a stronger second half year will continue.
  • In spite of the economic downturn in many Asian countries, the Group still expects positive contributions from its better market penetration in countries such as India and Indonesia.
  • With Influenza A virus (H1N1) rapidly spreading in Asia, countries are ramping up their vaccine production capabilities to meet the expected demand, and various governments are also increasing their spending in public health care.
  • The Group believes that these factors will drive the growing demand in its products.
  • With the recent acquisition of the HCC Group in France, revenue from the European market is expected to increase.
  • The Group considers HCC as an important initial move for expansion of its products into the European market.

FINANCIAL RECORDS

Revenue (USD '000)

FY 1H 2H Total
2009 39,803
2008 31,731 49,298 81,029
2007 25,589 40,230 65,819
2006 20,966 33,876 54,842
2005 17,498 27,119 44,617
2004 NA NA 41,917
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Earnings (USD '000)

FY 1H 2H Total
2009 1,432
2008 815 2,264 3,079
2007 980 5,031 6,011
2006 633 3,717 4,350
2005 518 3,169 3,687
2004 NA NA 3,677
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Dividends

FY Interim Final Special (SGD)

2009 NA
2008 NA 0.012 NA
2007 NA 0.012 NA
2006 NA 0.012 NA
2005 NA 0.010 NA

FY Interim Final Special (USD)

2004 NA 0.0095 NA
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Bonus / Rights / Stock Split

Date Type Details

NA
-----------------------------------------------------------
Share Data (USD)

NAV = $0.248
EPS = $0.0091 (6M FY09)
No of Shares = 155,000,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date

NA



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