Legend reports record profit

By

Australian memory manufacturer Legend Corporation has reported a net profit of $6.7 million for its year ending June 30, a 71.8 increase jump on the year earlier.

Legend reports record profit
Australian memory manufacturer Legend Corporation has reported a net profit of $6.7 million for its year ending June 30, a 71.8 percent increase on the year earlier.

The company had exceeded its earnings guidance to the market which had been $6.6 million, said Bradley Dowe, CEO at Legend.

Revenue for the Adelaide and Singapore manufacturer was $201 million, up 13.4 percent from last year.

Sales revenue from flash media and flash-based products increased from $18.4 million to $49.9 million in 2006 and the consumer electronics product range experienced a 53 percent increase in revenue compared to last year, the company said in a statement.

Revenue from Asia represented 53.6 percent of turnover and the South African business grew from $1.3 million in sales in its first partial year of full Legend ownership to over $15.2 million.

This financial year, Dowe expected the first contribution from the Cabac acquisition to add revenue. Cabac reported EBIT of $5.5 million on revenue of $56.4 million for the year ending June 30.

The acquisition of Cabac was settled on 3 July and was not included in Legend’s results.

“We will continue to review acquisition opportunities in the electronics and electrical industry,” Dowe said in a statement.
Got a news tip for our journalists? Share it with us anonymously here.
Tags:

Most Read Articles

NSW gov to house drones permanently at traffic hotspots

NSW gov to house drones permanently at traffic hotspots

Health signs $37m device-as-a-service deal

Health signs $37m device-as-a-service deal

Third of chip production could face copper supply disruptions by 2035

Third of chip production could face copper supply disruptions by 2035

Apple loses bid to dismiss US smartphone monopoly case

Apple loses bid to dismiss US smartphone monopoly case

Log In

  |  Forgot your password?