Tue, Dec 20, 2011 - Page 12 News List

Sampo predicts strong growth for coming year

‘HUGE GROWTH’:The firm will introduce a number of new home appliances in the first half of next year, looking to take advantage of a first quarter subsidy

By Amy Su  /  Staff Reporter

Sampo Corp chairman Felix Chen, center, introduces the company’s new 3D LCD TVs at a press conference in Taipei yesterday.

Photo: CNA

Home appliance maker Sampo Corp (聲寶) is expecting to see strong revenue growth momentum next year, thanks to the planned launch of a series of energy-saving products and a government subsidy scheme for the purchase of home electronics in the first quarter.

The company expects revenue growth to slow this month as the government’s subsidy plan would delay customer purchases during the end-of-the-year festive season.

“We are confident that revenue will experience huge growth next year,” Sampo chairman Felix Chen (陳盛沺) told a media briefing after holding a distributor event that showcased products the company plans to launch next year.

Sampo spokesman Peter Chiang (江全田) said all of the new home appliances are to be introduced during the first half of next year, with most to hit stores in the first quarter in tandem with the subsidy plan.

On Dec. 1, the government said it would provide a subsidy of NT$2,000 (US$65) for consumers who replace home appliances — including air conditioners, refrigerators and washing machines — with greener, energy-efficient models in the first three months of next year, on the condition that they purchase domestic brands.

In the long run, energy-saving appliances will be Sampo’s biggest selling products, especially its latest air conditioner model, which has been well-received by consumers, Chiang said.

Sampo posted NT$636.47 million in revenue last month, down 1.49 percent from a year ago, but up 33.47 percent from a month earlier. Total revenue was NT$7.77 billion for the first 11 months, up 0.59 percent from the previous year, data provided by the company showed.

Net income totaled NT$622.07 million, or NT$1.08 earnings per share, in the first three quarters, compared with NT$168.39 million, or NT$0.29 earnings per share, during the same period of last year, data showed.

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