Sunright Reports FY15 Net Profit Of $3.1 Million

Sunright has reported a FY15 net profit of $3.1 million, a massive improvement from $135,000 last year, despite revenue staying unchanged at approximately $137 million.

The improvement in profitability was brought by reductions in overall operating expenses of the group. Overall operating expenses dropped by 4.9 percent, from $136.6 million last year, to $129.7 million. With comparable revenue to last year, the reduction of $6.9 million in overall operating expenses boosted the profitability of the group.

The cost savings were mainly brought about by a 13.9 percent reduction in raw materials and consumables used, as well as changes in inventories of finished goods and work-in-progress due to lower sales from electronic manufacturing services and distribution. Other operating expenses decreased 16.5 percent primarily due to an exchange gain arising from appreciation of US dollars denominated receivables, increase in gain on disposal of property, plant and equipment of $1.3 million and lower production costs by $1.6 million.

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