Sunningdale posts profit in challenging market

By Gurdip Singh
Correspondent

Published: August 14, 2012 6:00 am ET

Related to this story

Topics Injection Molding, Molds/Tooling

SINGAPORE (Aug 14, 12:45 p.m. ET) —  Sunningdale Tech Ltd. said business prospects remains challenging with on-going Europe’s debt crisis, China’s slow growth and the United States’ slow economic recovery.

Pricing pressure from customers remains intense, coupled with significant increase in China labor costs continue to squeeze margins, said the Singapore-based company in its half yearly report.

Automotive business remains flat. Several old projects would come to end of life but would be replaced by several big newly won global projects which would start mass production in next one to two years, it assured shareholders.

Consumer/IT business also remains flat. One major customer has changed its supply strategy but strong orders from other existing customers and new customers have compensated for the gap, it disclosed.

Healthcare business remains the fastest growing segment. “Our Europe operations will start mass production towards end of 3Q for one of our customers that we currently serve in Asia,” said Sunningdale.

Tooling business orders have slowed down as one major customer has changed their supply chain strategy, coupled with weak export orders in automotive segment.

“Although there are many challenges ahead in the global business environment, the management remains confident due to strong business fundamentals that have been built over the years,” it said.

Sunningdale ended the first half of the year with a 36.7 percent improvement in profit attributable to owners to S$5.5 million (US$4.42 million or RMB28.1 million).

Sales increased by 10.4 percent to S$217.04 million (US$174.3 million or RMB1.11 billion) for the first half ended June 30.

The Q2 profit increased by 9.6 percent to S$2.2 million (US$1.77 million or RMB11.24 million) as sales rose by 4.7 percent to S$106.4 million (US$85.45 million RMB543.75 million).

The major contributors to Q2 earnings were the consumer/IT and healthcare business segments, partially offset by the mold fabrication business segment, it said.


Comments

Sunningdale posts profit in challenging market

By Gurdip Singh
Correspondent

Published: August 14, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Extreme Tool uses remote Michigan location to attract younger workers

September 30, 2014 3:47 pm ET

“I'm not saying there's anything wrong with being an old guy like me. But I do believe in the power of youth and reinvesting in training. The...    More

Image

Ohio molder Denbro Plastics moves to new location

September 29, 2014 6:17 pm ET

Logo products injection molder Denbro Plastics Co. has moved to another plant within Toledo, Ohio, to streamline production and improve efficiency.    More

Image

Nypro Healthcare continues to grow following Jabil acquisition

September 26, 2014 1:59 pm ET

Nypro Healthcare's newest medical device manufacturing facility offers 200,000 square feet of carefully configured Class 8 clean room molding and...    More

Image

Cascade founder believes business can be a place for real change

September 25, 2014 11:06 am ET

Companies can make a difference in a person's life, and Fred Keller, founder of Cascade Engineering Inc., believes it is important that they do.    More

Image

Deal combines two Minnesota molders

September 25, 2014 3:00 pm ET

Imperial Plastics Inc. has extended its injection press tonnage with the acquisition of another Minnesota custom molder.    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events