Founder Holdings
Founder Holdings Limited is engaged in software development and systems integration. The Company operates in five segments. The software development and systems integration for media business segment provides electronic publishing and broadcasting systems to media companies. Software development and systems integration for non-media business segment provides banking and information systems to financial institutions, enterprises and government departments. The distribution of information products segment engages in the distribution of computer hardware. The corporate segment comprises corporate income and expense items. The remaining segment consists principally of Founder's editing services for newspaper and magazines.
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Founder Holdings rockets 40% after cost-cutting brings it back in profit
Founder Holdings (HK:418) has released its annual report for 2008, revealing an overall profit of HK$23.35m for the year, up from their loss of HK$50.5m for 2007. Shares rose 40 percent on the news.
The company managed to reduce sales and distribution costs by HK$17.3m and administrative costs by HK$17.2.
Sales of its high-margin media related business increased by 12 percent. The lower margin non-media business recorded a turnover increased by 156.6 percent, to HK$711 .9m.
In March this year, the company signed an agreement with Agfa for cooperation on developing CTP, CTP plate and other related products.
The group also has plenty of cash, with a gearing ratio of 0.15.
