Legend profit up 80 percent

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Adelaide-based memory and component manufacturer and distributor Legend Corporation reported a net operating profit of $4.7 million for the 12 months ending 30 June, an 80 percent increase on the same period last year.

Adelaide-based memory and component manufacturer and distributor Legend Corporation reported a net operating profit of $4.7 million for the 12 months ending 30 June, an 80 percent increase on the same period last year.

Sales generated from its traditional geographies of Australia, South Africa and New Zealand grew from $92.6 million in 2004 financial year to $116.7 million in 2005, the company said.

A key driver behind the company’s growth was the utilisation of working capital received from its March 2004 IPO.

In 2004, the company launched a range of consumer digital products including Digital set-top boxes, and a Personal Video Recorder (PVR) that lets viewers record digital broadcasts to a hard drive to be viewed at a later time.

In March this year, it also started local production of Secure Digital Flash Media and was the only company in Australia producing this technology.

The company had also expanded its sales and distribution network. Sales from its Hong Kong operation had grown by almost 50 percent while its Thailand and Taiwan operations were showing strong sales growth, the company said.

A sales, administration and production facility was being established in Singapore to assist in the development of Asean regions.

In June, Legend had taken over the operation of its five-year-old manufacturing and distribution joint venture in South Africa, Memory Performance.

The manufacturing part of the operation was moving to the Singapore site and Legend was to keep supplying memory module products to Memory Performance.

Over the past 12 months, it had also signed to distribute Foxconn motherboards and the full range of Hitachi hard drive products.

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