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

Quick-Start manifolds designed to complement Rheo-Pro hot runners.

December 17, 2014 6:00 am ET

MHS Mold Hotrunner Solutions of Georgetown, Ontario, has introduced the pre-engineered Quick-Start line of hot runner manifolds, designed to...    More

Mold maker I. Thibault plans to invest more capital in Mexico

December 16, 2014 1:03 pm ET

Canadian mold maker I. Thibault Inc. plans to invest more capital in its wholly owned Mexican subsidiary, which it started operating in the summer.    More

Image

Milacron opening Mexico technical center, considers another in Brazil

December 16, 2014 12:58 pm ET

Milacron LLC plans to officially open a new technical center in Querétaro, 140 miles northwest of Mexico City, early in 2015, and the company is...    More

Image

Indian mold maker Vasantha sees 'great potential' in Mexico

December 16, 2014 12:52 pm ET

Indian mold maker Vasantha Tool Crafts Pvt. Ltd. has appointed its first sales representative in Mexico, 15-year plastics industry professional Eric...    More

Image

Plastikos, Micro Mold working with local high school

December 15, 2014 6:00 am ET

The companies donated a 60-ton Demag injection press to the school, and Micro Mold’s general manager has worked with the high school's tool room...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

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

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events