March 19, 2020 / 2:02 PM / 9 days ago

BRIEF-Stella International Holdings Posts FY Revenue $1,544.8 Mln

March 19 (Reuters) - Stella International Holdings Ltd :

* REVENUE FOR YEAR US$1,544.8 MILLION VERSUS US$1,588.6 MILLION

* FINAL DIVIDEND WAS PROPOSED TO BE HK45 CENTS

* FY NET PROFIT FOR YEAR INCREASED BY 54.2% TO US$95.9 MILLION

* EXPECTS CAPITAL REQUIREMENTS TO REMAIN MODEST IN 2020

* FY SHIPMENT VOLUMES AND ASP FOR 2020 WILL DEPEND PREVAILING EXTERNAL HEADWINDS, INCLUDING IMPACT OF COVID-19

* SHUT DOWN MANUFACTURING OPERATIONS IN PHILIPPINES FOR AROUND MONTH FOLLOWING GOVERNMENT’S DECISION TO CONTAIN COVID-19 VIRUS

* RELOCATED ORDERS ASSIGNED IN PHILIPPINES TO FACTORIES IN OTHER COUNTRIES

* RECENTLY FINALISED PLANS TO EXPAND MANUFACTURING FOOTPRINT IN SOUTHEAST ASIA BY ADDING NEW LOCATION IN INDONESIA IN 2020

* WILL CONTINUE TO MAINTAIN STRICT COST CONTROL MEASURES, SUCH AS CLOSELY MANAGING HEADCOUNTS Source text for Eikon: Further company coverage:

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