By Chris Nicholls
MELBOUNRE: TEAC Australia has returned to the black this year, with a $4.8 million profit for the 12 months to 31 March, up from almost exactly the same dollar value loss for the same period last year.
Announced at an investor presentation today, TEAC also posted sales of $55 million, up 30.4 per cent on the 12 months to 31 March 2007.
Total industry sell-in value grew 31 per cent from $1.39 billion to $1.83 billion.
LCD TV sales, boasted in earlier comments as being the company’s strongest sector this year, rose 74 per cent over the period. The TVs made up 76 per cent of the company’s total sell-in value from January to December 2007.
In the same January to December 2007 time frame, LCD television sales rose 209 per cent by units and 89 per cent.
One key strategy announced at the meeting was TEAC’s desire to improve its relationship with Harvey Norman, which it said had grown already 185 per cent over FY07/08.
This improvement compares to the almost non-existent dealings Harvey’s had with the previous TEAC iteration, but TEAC said it hoped to increase its Harvey Norman business by between 16 and 18 per cent, although no time frame was given.
The company also said it hoped to increase the proportion of its sales from NSW from 20 per cent to closer to 30 per cent.
TEAC also said it hoped to develop commercial and indent market sales and may even enter the accessories business.
Breaking down its operations by value, TEAC said 40.1 per cent came from LCD, 20.6 per cent from DVD players, 14.8 per cent still came from CRT televisions and 12 per cent from set-top boxes.
The remaining smaller portions came from portable audio at 9.4 per cent, PVRs at 2.3 per cent and home theatre systems at just 0.8 per cent.
TEAC also detailed its advertising and promotion system, with billboards, back of bus advertising, posters and logo placement at Suncorp Stadium in Queensland.
It also sponsors the Port Melbourne Boroughs.