[TodayIR] VST HOLDINGSL: VST Announces 2013 Annual Results

  [TodayIR] VST HOLDINGSL: VST Announces 2013 Annual Results - Distribution
                         Segment Shows Strong Growth

[Hong Kong, 19 March 2014] VST Holdings Limited (“VST” or the “Company” and
its subsidiaries together, the “Group”, Hong Kong Stock Code: 0856), one of
the leading IT product distributors in Asia Pacific, today announces its
annual results for the year ended 31 December 2013 ( “the Year”).

The Group’s turnover for the year ended 31 December 2013 was HK$40,239,286,000
(2012: HK$37,097,592,000). Gross profit for the year ended 31 December 2013
amounted to HK$1,516,958,000 (2012: HK$1,407,374,000). Net profit for the year
ended 31 December 2013 amounted to HK$525,127,000 (2012: HK$464,399,000).
Basic earnings per share for the year ended 31 December 2013 amounted to
HK33.77 cents (2012: HK29.85 cents) per share.

The Group has shown strong growth in the Distribution segment, driven by
increased sales of mobility devices, hard disks and CPUs. During the year,
revenue from the Distribution segment increased by 6.52% to HK$31,953,879,000,
contributed 79.41% of the total Group revenue. The growth was mainly due to
higher sales of mobility devices, hard disks and CPUs. Revenue from the
Enterprise Systems segment increased 17.32% to HK$8,064,408,000, contributed
20.04% of the total Group revenue. The increase was mainly driven by higher
sales of servers, networking hardware and software products. Revenue from IT
services remain stable at HK$220,999,000, contributed 0.55% of the total Group
revenue.

Geographically, both North Asia and South East Asia performed well in the year
ended 31 December 2013. During the year, North Asia revenue increased by 9.89%
to HK$31,485,864,000, contributing 78.25% of the total Group revenue. The
growth was mainly from the increased sales of mobility devices, hard disks,
CPUs, servers, networking hardware and software products. South East Asia
revenue increased by 3.64% to HK$8,753,422,000, contributing 21.75% of the
total Group revenue. The growth was mainly from higher sales of mobility
devices, networking hardware and desktop PCs.

Mr. Li Jialin, Chairman of VST Holdings Limited said, “The Group will continue
to play an important role as distributor and IT provider even as the IT
ecosystem continues to undergo significant transformation. Our strategy
remains unwavering amidst the winds of change — we constantly redefine our
value proposition as a trusted partner with strong relationships and deep
understanding of our customers’ needs. Strategically we will continue to
expand in China and Indonesia. At the same time, we work actively to improve
internal operational and financial efficiencies to improve margins, an
endeavour which will also see a growing emphasis on Enterprise Systems. We
will also continue to expand our business into mobility devices and cloud
computing. With our experienced and dedicated management team, we are
confident that we will be able to overcome any obstacles ahead.”
 
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