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Letter to Shareholders
I am pleased to report that the full year results for
the financial year 2005 were better than we
expected when we announced our half year results
in November 2004.
>>
>>
Dear Shareholders,
I am pleased to report that the full year
results for the financial year 2005 were
better than we expected when we
announced our half year results in
November 2004. The Group's Electronic
Learning Products (ELP) and Contract
Manufacturing Services (CMS) businesses
achieved better than expected growth for
the full year, helping to offset an
unsatisfactory perform ance from our
telecommunication products business in
the United States. Through management
efforts, the difficult situation of the
telecommunication products business in
the United States was brought under
control and, follow ing a series of
rationalisation measures, its US operations
are becoming more effective and efficient.
Results
Revenue for the Group increased by 11.7%
over the financial year 2004 to US$1,022.0
million and profit attributable to
shareholders, including US$6.7 million
non-recurring income arising from
settlement of an indemnification claim,
increased by 22.9% to US$56.9 million.
Earnings per share rose 22.9% to US25.2
Allan WONG Chi Yun
Chairman
02 VTech Holdings Ltd Annual Report 2005