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11
ANNUAL REPORT 2013
OPERATIONS REVIEW
we fought hard to protect our market share, which led to a year-on-year slight increase of 1.0% in our revenue to reach
HK$1,490.2 million. As a result of our combined efforts, Willas-Array recorded a full-year revenue of HK$3,157.6
million, representing a 3.2% dip from the previous year. Despite a drop in revenue, the Group managed to increase net
profit from HK$44.6 million in FY2012 to HK$45.8 million.
To further strengthen our distribution business of Toshiba products in PRC and Hong Kong, we have established a joint
venture company in partnership with G.M.I. Technology Inc., a premier electronics distributor based in Taiwan and listed
on the Taiwan Stock Exchange. Named GW Electronics Company Limited, this joint venture company will distribute
Toshiba Semiconductor products in mainland China and Hong Kong, paving the way for the Group’s further expansion in
our main target market in PRC and Hong Kong, and we believe this will also deepen our market and product knowledge.
PERFORMANCE REVIEW BY BUSINESS SEGMENTS
In FY2013, we aligned our engineering efforts and allocated resources to our various business segments in response to
market demand. As a result of our efforts, the performance of our high growth segments was able to offset the performance
of the weaker segments and result in an overall profit growth for the Group.
Industrial (23.3% of the Total Revenue)
The industrial segment continued to be our largest revenue contributor with reported revenue worth HK$735.8 million,
representing 23.3% of the Group’s total revenue. This segment was deeply impacted by the weakening of the export
market, especially in terms of welder exports, causing revenue from this segment to drop by 5.5% in the first half of
FY2013.
Hong Kong head office