Johnson Electric profit up 38pc

Business | Janice Huang 18 May 2017

Johnson Electric Holdings (0179) saw annual net profit rise 38 percent, up to a record US$238 million (HK$1.85 billion), by the end of March.

The total sales amounted to US$2,776 million, an increase of 24 percent year on year.

The company credited streamlined business processes, positive impact from recent acquisitions, as well as a decline in raw material prices, for the results.

The electric motors and motion subsystems provider predicted revenue will continue to see positive growth in the next three to five years.

Chairman Patrick Wang Shui- chung, said, "In the short term, the major macro-economic challenges to the business are likely to be the recent increase in raw material prices, ongoing wage inflation and the strength of the US dollar relative to a number of other currencies in which we do business."

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