TCL Group Posts Strong Sep Growth

Electronics manufacturer TCL Group (000100.SZ) reported net profit of RMB 51 million in the third quarter of 2009, up 45% year-on-year, in its financial statement released October 14.

TCL Group subsidiary TCL Multimedia (1070.HK) reported LCD TV sales growth of 144.7% year-on-year to 1.12 million in September, bringing its total sales in the first nine months to 5.53 million, up 105.2% year-on-year. Sales of AV products rose 56.7% year-on year to 2.89 million units, according to the report.

Sister subsidiary TCL Communication (2618.HK) sold 1.32 million handsets in September, up 9.58% year-on-year, while the company’s total sales in the first nine months of 2009 slowed 9.40% year-on-year to 9.29 million units.

TCL Corporation (SZSE: 000100) was estimated to earn a net profit of about CNY 150 million in total during the first nine months of 2009, with an about 33% rise year on year, the Chinese home appliance maker announce in a report on October 14.
The company was predicted to take a net profit of about CNY 51 million in the third quarter, according to the report. It said in its first-half fiscal report previously that it had a net profit of CNY 98.91 million.

In September alone, it achieved a LCD TV sales volume of 1.122886 million, with a year on year growth of 144.7%. It had a LCD TV sales volume of 5.527089 million in the nine months, with a 105.2% surge year on year.

However, its white goods business declined. Its air conditioner sales volume suffered a 27.55% drop year on year in the period, washing machine sales volume 21.85%; and icebox sales volume 5.36%

TCL Corp<000100>, a major Chinese TV and mobile phone manufacturer, yesterday announced that its net profit in the first nine months of this year probably fell 68% year on year to about RMB 150 million, sources reported. The firm attributed the apparent drop in net profit to the sale of its low-voltage appliances division, which contributed around RMB 358 m

Source: Various