Mainboard-listed Beyonics Technology, the integrated manufacturing services provider, says profit attributable to equity holders increased by 66.7% to $6.9 million financial year ended 31 July 2010 (FY2010) compared to $4.2 million in FY2009.

Group revenue achieved was $1.55 billion, comparable to the previous financial year of $1.57 billion.

Revenue from the Electronics Manufacturing Services (EMS) division decreased slightly by 3.1% to $1.40 billion in FY2010 as compared to $1.44 billion in FY2009 mainly due to selling price erosion.

Revenue from the Precision Engineering Services (PES) division increased by 15.3% to $151.3 million in FY2010 as compared to $131.3 million in FY2009 mainly due to improved conditions in the hard disk drive and automotive industries.

Group gross profit for FY2010 increased by 14.0% to $37.3 million as compared to $32.7 million for FY2009. Gross profit margin for FY2010 of 2.4% was higher compared to 2.1% for FY2009 due to better product mix in the EMS division. Despite a year-on-year higher revenue, the PES division suffered a higher loss due to selling price erosion, higher material costs and lower production yields.

Trade debtors and trade creditors balances were lower as at 31 July 2010 due to lower manufacturing activities in the last quarter of FY2010. Inventories were higher due to higher turnkey projects.

The group says it will continue to focus on working capital management resulted in lower bank borrowings as at 31 July 2010.

The directors have recommended a first and final of 0.5 cents per ordinary share (one-tier tax exempt), subject to approval by shareholders at the Annual General Meeting.