“Notwithstanding a significantly improved second quarter of this year vs. the first quarter and the second quarter of 2008 in terms of operating results we remain cautious for the rest of the year,” said the Singapore-based injection molder and tooling supplier.

Sunningdale reported an improvement in the automotive segment on quarter to quarter basis for the first two quarters of this year but pointed out that the North American production output declined by 50.1 percent year on year for the second quarter of this year.

Nevertheless, Sunningdale’s automotive segment recorded a 5.1 percent increase in the second quarter from the first quarter.

“It is a sign that the steep downturn of the North American automotive industry has stabilized,” said the company.

“Due to the geographically diverse customer base, our overall automotive sales was less severely impacted; declining 14 percent year on year for second quarter, but that represents a 41 percent increase over the first quarter of 2009,” it said.

In the consumer/information technology segment, Sunningdale has started to ramp up production for projects awarded in the second half of last year and would continue to ramp up output through to the second half of this year. Production from Mexico plants would contribute to the output ramp up during the second half of this year, it added.

Sunningdale said its healthcare business segment continues to grow. It has further expanded the customer base, and expected to be heavily loaded per plan for the rest of this year.

“Our tooling orders, which serve as a leading indicator, continue to be strong across all business segments,” it said, adding that its southern China facility would contribute to the increase in tooling output from the third quarter of this year.

Nevertheless, Sunningdale management would continue to stay focused on operations and would make selective investment in existing and targeted new accounts.

Sunningdale’s sales for the second quarter ended June 30 rose by 7.1 percent to S$92.3 million (US$64 million or CNY436.88 million) from S$86.2 million (US$59.78 million or CNY408 million) for the same quarter of last year. Sales for the January-June period was down by 4 percent to S$166.7 million (US$115.6 million or CNY789.05 million) from S$173.68 million (US$120.43 million or CNY288.01 million) a year ago.

Net profit was S$198,000 (US$137,322 or CNY937,534) for the second quarter of this year, reversing from a loss of S$4.96 million (US$3.44 million or CNY23.5 million) a year ago. Sunningdale also recovered during the first half of this year with a profit of S$1.88 million (US$1.3 million or CNY8.9 million) from a loss of $4.72 million (US$3.27 million or CNY22.35 million) a year ago.