Broadway Industrial

Broadway Industrial: FY13 net profit slumped 93.3% to $1.6m on revenue of $178.4m (+4.7%), with top-line driven by higher sales from both the foam plastics divisions and non-HDD segments in the components division. Gross margins grew to 8.7% from 8.2% primarily due to the improved sales performance of the non-HDD segment. Bottom-line was however weighed by a 63.7% drop in other income to $13.3m, and tax expenses of $4.2m versus a tax credit of $0.7m in FY12 due to a significant reduction in deferred tax credit and provision for the previous year.