ACS reports 45% increase in sales for first half year of 2012
August 10, 2012
Hong Kong, 10 Aug, 2012 – Advanced Card Systems Holdings Ltd. (ACS, SEHK: 8210), mother company of Advanced Card Systems Limited, Asia Pacific’s number 1 supplier and one of the world’s top 3 suppliers of PC-linked smart card readers (Source: Frost & Sullivan), announces its financial results for the first half year of 2012.
For the first half year of 2012, the sales revenue amounted to US$9.3 million, 45% higher than the corresponding figure of US$6.4 million in the first half year of 2011. The net profit before tax increased to US$0.9 million from US$41 thousand.
| Six months ended 30 June | ||
| 2012 | 2011 | |
| US$'000 | US$'000 | |
| Revenue | 9,331 | 6,423 |
| Cost of sales and services provided | (4,174) | (3,273) |
| Gross Profit | 5,157 | 3,150 |
| Other income and gains | 15 | 8 |
| Expenses | (4,010) | (3,093) |
| Profit before income tax | 1,162 | 65 |
| Income tax expense | (239) | (24) |
| Profit for the period | 923 | 41 |
Denny Wong, Chief Executive Officer, commented, “In the 17 years after its establishment in 1995, ACS has developed a wide range of prime technologies in the smart card industry. We emphasize on quality and customer satisfaction and since customers usually stay with us for a long time, the percentage of our sales and marketing costs to total costs is relatively low in the industry”.
ACS now sells its products to over 100 countries in the world. It continuously enhances and expands its technologies and launches to the market more and more sophisticated products and services of which the market sizes are bigger and bigger. Such products are generating fruit to ACS and an acceleration of growths in its sales revenue and profit in the future several years can be expected.
The complete Financial Statement for the 6 months ended 30 June 2012 can be found here. For more information about Advanced Card Systems Limited, please visit www.acs.com.hk).