By Patrick Avenell
TEAC’s Singaporean owners TTA Holdings yesterday released their profit statement for the year ending 30 March. In good news for the consumer electronics supplier, profit has increased to just over $6.6 million from the previous year’s figure of $4.5 million. Revenue has also increased; up from $42.2 million in 2007 to $55 million in 2008.
TEAC is currently active in the Australian market with small-to-medium sized LCD flat panels, portable DVD players and set top boxes.
This is the first time TTA Holdings has posted a profit statement since originally listing on the Australian Stock Exchange. The TEAC brand has had a troubled 30-year history in Australia, with a previous incarnation collapsing despite generating much greater revenue than the 2008 figure.