Willas-Array Electronics (Holdings), one of the largest Hong Kong-based distributors of electronics components in the Asia Pacific region, has swung back to the black, reporting a net profit attributable to shareholders of HK$70.5 million ($12.8 million) for the full year ended 31 March 2010 (FY2010). This compares with a loss of HK$19.7 million in the previous full year (FY2009).

This was achieved on the back of a 25.1% surge in revenue, from HK$2.4 billion in FY2009 to HK$2.9 billion this year. Gross profit margin increased from 10.3% to 10.7% over the same period.

Willas-Array says the group’s swift turnaround was also the result of its strong financial discipline, with a firm emphasis on tight capital management, ensuring a healthy cash balance and strong cash flow, regardless of the business environment.

The directors have recommended a first and final dividend of 1.8 cents per share.