2012-12-12 08:07:17 -

QuamIA published an earnings update on United Pacific Industries Limited ("UPI"; SEHK: 00176.HK). They maintained Positive rating and lifted the target price to HK$0.55, implying 35.8% upside.

Below is a summary for your reference:

-- UPI successfully weathered the ailing economy in Europe by posting a 79% Y-o-Y increase in post tax profits from continuing operations on the back of 15% Y-o-Y increase in revenue in FY2012. We raised our earnings forecast for FY2013E and FY2014E by 6% and 1% respectively to reflect higher cost efficiencies and a better-than-expected result of its associate company.

-- We revised our target price by 5.7% to HK$0.55, representing a 7.8x P/E for FY2013E.

-- UPI is trading at an estimated dividend yield of

3.9% for FY2013E.

Full report is available at www.quamir.com/quamir/researchreport.action?request_locale=en_US ..

About United Pacific Industries Limited (00176.hk)
United Pacific Industries Limited ("UPI", "the Group") is a diversified holding company which has been listed on the Hong Kong Stock Exchange since 1994. Its principal operations are in tools, magnetic technologies, precision measurement, consumer electronics and contract electronic manufacturing. The Group has its core operating subsidiaries in the United Kingdom, France, Australia, New Zealand, Canada and the PRC and its products are sold in more than 100 countries around the world.

Source: QuamIA

Contact: Quam IR Ms Anita Wan (852) 2217-2811 anita.wan@quamgroup.com Ms Sharon Au (852) 2217-2812 sharon.au@quamgroup.com Ms Venus Lam (852) 2217-2813 venus.lam@quamgroup.com

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