Results Highlights
(RMB million) | For the six months ended 30 June | ||
2018 | 2017 | Change | |
Revenue | 772 | 675 | +14.4% |
Gross profit (before reversal of impairment losses of inventories ) | 451 | 413 | +9.2% |
Gross profit margin (before reversal of impairment losses of inventories) | 58.4% | 61.2% | -2.8 ppts |
Operating profit | 552 | 627 | -12.0% |
Operating profit excluding investment income | 74 | 82 | -9.8% |
Profit for the period attributable to equity holders of the Company | 481 | 536 | -10.3% |
| |||
Basic earnings per share (RMB cents) | 8.40 | 9.72 | -13.6% |
Interim dividend and interim special dividend per share (RMB cents) | 4.90 | 5.80 | -15.5% |
Additional special dividend (RMB cents) | - | 17.32 | N/A |
HONG KONG, CHINA - Media OutReach - 15 August 2018 - The leading international sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or "the Company", together with its subsidiaries, "the Group", HKEx stock code: 3818) announces its unaudited interim results for the six months ended 30 June 2018 ("reporting period"). The Group's revenue for the reporting period increased by 14.4%, year-on-year ("YoY"), to RMB772 million, while profit attributable to equity holders of the Company reached RMB481 million with the basic earnings per share as RMB8.40 cents. In light of the sound cash condition of the Company, the Board of Directors has proposed to distribute 30% and 30% of the net profit attributable to equity holders for the six months ended 30 June 2018 as interim dividend and special interim dividend, respectively, representing a dividend payout ratio of 60%. The total distribution of dividends will amount to RMB4.90 cents (HKD5.5992 cents) per share.
Performance Highlights of 1H 2018
- China Segment: Building Brand Clarity and Focusing on Retail-end for Regaining Growth
- Kappa Kids
As at 30 June 2018, the Group had a total of 1,439 Kappa stores (including 335 Kappa Kid's stores).
- Japan Segment: Stabilized As Loss Minimised And Turnaround Can Be Expected
- Investment Segment: Stable Performance Secured with Progress Made in a Cautious Way
Mr. Chen Yihong, Chairman and Executive Director of China Dongxiang, said, "In the first half of 2018, China Dongxiang was facing drastic changes in the domestic as well as international market landscapes. To seize potential opportunities arising from new developments, we continued to implement reforms while making realistic adjustments in a timely fashion to roll out a range of important measures in a target-special manner, resulting in impressive performance. As a company that has been established for almost sixteen years, China Dongxiang will continue to uphold the 'work hard' spirit, and strive for new milestones in the future with full confidence."
About China Dongxiang (Group) Co., Ltd. (Stock code: 3818)
China Dongxiang (Group) Co., Ltd. is a leading international sportswear brand enterprise in China which has been listed on the Main Board of the Hong Kong Stock Exchange since 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally renowned Kappa brand in China, Macau and Japan. On 1 May 2008, China Dongxiang completed the acquisition of PHENIX, a Japanese sportswear enterprise. PHENIX is the most popular ski brand in Japan with the largest market share, as well as a well-known brand in the international market.
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