HONG Kong-based biometrics group RCG boosted pre-tax profit by 34.5% in 2008 and remains determined to grow market share in China, the Middle East and Southeast Asia.
Its listing on the main board of the Hong Kong Stock Exchange last month improved liquidity, prompting a share price rally in recent weeks.
Chairman and chief executive Raymond Chu said RCG is well placed to see growth momentum continued in the key markets where it operates.
The group plans to expand by increasing its market share in “carefully selected, rapidly growing high potential markets,” especially the People’s Republic of China, the Middle East and Southeast Asia.
China accounted for 24% of turnover this last year, up from 14% in 2007, and is likely to increase again in 2009 as RCG seeks a piece of the country's RMB4 trillion economic stimulus plan.
Businesses in the healthcare, financial services, infrastructure and container tracking sectors are of particular interest.
Profit before tax for the year ended 31 December 2008 jumped to HK$613.4m from HK$456.2m in 2007 on revenue up 39.2% to HK$2bn.
Add a comment