MAINBOARD-LISTED Huan Hsin Holdings yesterday reported record high profit and sales for last year, helped by buoyant orders for various electronic components and products, especially notebook casings and notebook peripherals.

Net profit for the year ended Dec 31 rose 8 per cent to $32.2 million. Earnings would have surged 33 per cent to $43 million if not for a loss from its associated companies, the contract manufacturer said in a statement.

It said that its share of losses from associated companies worsened to $10.9 million from $2.5 million in the previous year, and cited a 40 per cent-owned joint venture keyboard plant in Shanghai as the main culprit.

Sales for the year grew 40 per cent to $471.4 million.

Huan Hsin's managing director, Mr Hsu Cheng Chien, said: 'Notebook casing shipment growth continued to outperform the broader market, surging 70 per cent to 8.5 million units in 2004. Also, new orders for notebook peripherals have exceeded our initial expectation.'

Fourth-quarter net profit also reached a record high of $12.1 million, doubling from the third quarter, and up 35 per cent from a year earlier.

A final dividend of 6 per cent per share has been recommended.

Huan Hsin said it expects to further expand market share this year.

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The Straits Times