Mainboard-listed Karin Technology, one of the leading IT and components solutions and services provider in Hong Kong and China, says it net profit attributable to shareholders increased by 4.5% from HK$32.4 million for FY09 to HK$33.8 million ($5.9 million) in year ended 30 June 2010 (FY10).

Despite the fact that the global economy had not yet fully recovered from the global financial crisis, Karin managed to achieve a turnover of HK$1,562.2 million.

Robust demand for electronic components for mobile phones in developing countries saw revenue for the group’s Components Distribution segment increased by HK$18.5 million or 3.7%, from HK$506.2 million for the year ended 30 June 2009 (FY09) to HK$524.7 million for FY10.

The group’s strategic expansion of its IT products portfolio also paid off, with its Information Technology Infrastructure segment seeing revenue increased by HK$33.8 million or 4.1%, from HK$827.2 million for FY09 to HK$861.0 million for FY10.

Other income and gains increased by HK$1.9 million or 28.8%, from HK$6.6 million for FY09 to HK$8.5 million for FY10. The increase was mostly due to the net effect of the increase in fair value gain on investment properties by HK$2.8 million and the decrease in fair value gain on derivative financial instrument by HK$0.5 million and interest received by HK$0.1 million.

Karin will be proposing a final tax-exempt dividend of HK 5.0 cents per share at the upcoming annual general meeting.