A8 Achieved Record High Revenue and Profits in 2009
March 26, 2010 in Uncategorized by laurentan
Source: Earthtimes (press release) (Original Article)
HONG KONG, March 24 /PRNewswire-Asia/ — Leading integrated digital music
company in China A8 Music Holdings Limited ("A8 Music" or the "Group") (Stock
Code: 00800.HK) today announced its audited annual results for the year ended
31 December 2009.
Results Highlights:
— Strong sequential revenue growth of 43% in 2H09 from 1H09, 2H09 YoY up
11%
— 2009 full year revenue amounted to approximately RMB707 million,
representing a slight increase from RMB706 million in 2008
— Excluding one-off event held in 2008, revenue increased by
approximately 8%, which is in line with the industry growth
— Profit attributable to owners of the Company increased by 27% amounted
to approximately RMB102 million
— Strong balance sheet, with cash balances and highly liquid short term
assets of approximately RMB402 million and net assets of approximately
RMB483 million as of 31 December 2009
— The Board has proposed a final dividend of HKD0.05 per share
The Group recorded a strong sequential revenue growth of 43.2% in 2H09
from 1H09, YoY up by 10.5%. Full year turnover increased slightly to RMB707
million. Excluding the revenue contribution of RMB48.6 million from a one-off
event held with a mobile operator in 2008, the revenue of the Group of the
year 2009 represented an increase of approximately 8% compared with 2008. The
Group strived to tighten expenses in line with the stable growth in turnover
which helped contribute to a 2% growth in gross profit to RMB270 million.
Profit attributable to owners increased substantially by 27% over 2008 to
approximately RMB102 million. Basic earnings per share were RMB0.23 (2008:
RMB0.20). The Board has recommended payment of a final dividend of HKD0.05 per
share for the year ended 31 December 2009.
The Group enjoyed a strong financial position with no debt and a cash
balances and highly liquid short term assets of RMB402 million as at 31
December 2009 lawyer interest calculator (2008: RMB317 million).
Mr. Liu Xiaosong, Chairman …continue reading
