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Headquarters (Hong Kong):
Johnson Electric Group
6-22 Dai Shun Street
Tai Po Industrial Estate
Tai Po, New Territories
Hong Kong
Main Line: +852 2663 6688
Fax No.: +852 2897 2054
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Johnson Electric Holdings Limited

(Incorporated in Bermuda with limited liability)

(Stock code : 179)

INTERIM RESULTS ANNOUNCEMENT
FOR THE PERIOD ENDED 30TH SEPTEMBER 2007

HIGHLIGHTS

Turnover up 4% to US$1,094 million
EBITDA up 18% to US$160 million
Operating profit up 26% to US$116 million
Net profit attributable to shareholders up 23% to US$80 million
Earnings per share up 23% to 2.17 US cents per share
Interim dividend of 4.5 HK cents per share (0.58 US cents per share)
Cash generated from operations up 71% to US$140.3 million
Net gearing (net debt to total equity) reduced to 34%

The Directors announce that the unaudited consolidated profit attributable to shareholders for the six months ended 30th September 2007 was US$79,792,000, an increase of 23% over the corresponding period in 2006.

FINANCIAL RESULTS

The unaudited condensed consolidated profit and loss account for the six months ended 30th September 2007 together with comparative figures for the corresponding period in 2006 is set out below:

CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT
	Note	2007	2006
		US$'000	US$'000

Sales	2	1,094,176	1,052,324
Cost of goods sold		(810,180)	(774,446)
Gross profit		283,996	277,878
Other income and gains		12,720	1,634
Selling and administrative expenses		(178,150)	(182,629)
Restructuring provisions		(2,703)	(5,082)
Operating profit	3	115,863	91,801
Finance costs		(9,764)	(10,730)
Share of (losses) / profits of jointly
controlled entities / associated companies		51	169
Profit before income tax		106,150	81,240
Income tax expenses	4	(21,000)	(15,030)
Profit for the period		85,150	66,210

Attributable to:
Equity holders of the Company		79,792	64,746
Minority interests		5,358	1,464
		85,150	66,210

Interim dividend	5	21,195	21,195

Earnings per share for profit attributable to the
equity holders of the Company during the period
(expressed in US cents per share)
Basic	6	2.17	1.76
Diluted	6	2.17	1.76

CONDENSED CONSOLIDATED BALANCE SHEET
As at 30th September 2007
	Note	Unaudited	Audited
		30th September	31st March
		2007	2007
		US$'000	US$'000
ASSETS
Non-current assets
Property, plant and equipment		384,647	390,019
Investment properties		34,703	24,208
Leasehold land and land use rights		23,670	24,805
Intangibles		681,747	667,154
Associated companies		1,907	2,364
Deferred income tax assets		29,914	30,918
Available-for-sale financial assets		4,434	5,131
Other financial assets at fair value through
profit or loss		5,371	4,140
		1,166,393	1,148,739


Current assets
Stocks and work in progress		286,802	251,170
Trade and other receivables	7	479,271	458,859
Derivative financial instruments		18,010	9,463
Other financial assets at fair value through
profit or loss		-	995
Income tax recoverable		6,215	7,482
Bank balances and cash		194,915	149,282
		985,213	877,251
Current liabilities
Trade and other payables	8	334,608	298,055
Current income tax liabilities		33,252	19,869
Derivative financial instruments		7,239	698
Borrowings		21,824	20,615
Provisions and other liabilities		22,206	25,539
		419,129	364,776
NET CURRENT ASSETS		566,084	512,475

TOTAL ASSETS LESS CURRENT LIABILITIES		1,732,477	1,661,214

Non-current liabilities
Borrowings		526,587	552,900
Derivative financial instruments		32,343	19,272
Deferred income tax liabilities		92,618	87,535
Provisions and other liabilities		36,507	38,117
		688,055	697,824
NET ASSETS		1,044,422	963,390


		Unaudited	Audited
		30th September	31st March
		2007	2007
		US$'000	US$'000

EQUITY
Share capital		82,284	82,062
Reserves		912,307	818,568
Proposed dividend		21,195	40,035
		1,015,786	940,665
Minority interest		28,636	22,725
TOTAL EQUITY		1,044,422	963,390

CONDENSED CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE
For the six months ended 30th September 2007

	2007	2006
	US$'000	US$'000

Gain on revaluation of property, plant and equipment
and leasehold land transfer to
investment properties	4,346	-
Deferred income tax effect on gain on revaluation
of property, plant and equipment and leasehold
land transfer to investment properties	(761)	-
Available-for-sale financial assets:
- fair value (losses)/gains	(355)	1,169
- release of reserves upon disposal	(120)	122
Hedging instruments:
- fair value gains	8,148	22,324
- transferred to profit and loss account	(4,430)	(17,105)
Deferred income tax effect on fair value gains in
hedging instruments	(491)	(894)
Actuarial gains/(losses) of defined benefit plan	693	(3,254)
Deferred income tax effect on actuarial (gains)/losses
of defined benefit plan	(16)	128
Adjustment arising on translation of foreign
subsidiaries, associated companies and jointly
controlled entities	29,335	21,181
Net income recognised directly in equity	36,349	23,671
Profit for the period	85,150	66,210
Total recognised income for the period	121,499	89,881


Attributable to:
Equity holders of the Company	115,341	87,814
Minority interest
Share of profit for the period	5,358	1,464
Adjustment arising on translation of foreign
subsidiaries	800	603
	6,158	2,067
	121,499	89,881

Note:

1. Principal accounting policies

This unaudited condensed consolidated interim financial information is prepared in accordance with Hong Kong Accounting Standard (HKAS) 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants and Appendix 16 of the Listing Rules of The Stock Exchange of Hong Kong Limited.

The accounting policies and methods of computation used in the preparation of this condensed consolidated interim financial information are consistent with those used in t