International fashion retailer PORTS Design's gross profit up 19.27%

10 Apr '06

3 min read

International fashion company PORTS Design Limited released the results of the year 2005. Turnover for the Group increased from RMB714.1 million in 2004 to RMB851.7 million in 2005, representing an increase of 19.27 percent. (Turnover is comprised of three segments: Retail, OEM, and Other)

Highlights:
• Gross Profit for the Group increased from RMB435.4 million in 2004 to RMB555.9 million in 2005, representing an increase of 27.68 percent. Gross profit margin also increased from 60.97 percent in 2004 to 65.27 percent in 2005

• Profit from operations increased from RMB142.5 million in 2004 to RMB186.0 million in 2005, representing an increase of 30.45 percent. Operating margin (i.e. profit from operations expressed as a percentage of turnover), increased from 19.96 percent in 2004 to 21.83 percent in 2005.

• Net Profit for the Group increased from 133.5 million in 2004 to RMB165.1 million in 2005, representing an increase of 23.61 percent. Net profit margin also improved from 18.70 percent in 2004 to 19.38 percent in 2005

• Dividend payout increased from RMB69.2 million in 2004 to RMB100.6 million* in 2005, representing an increase of 45.30 percent

• Gross profit margin increased by 4.3 percent over 2004 to 65.27 percent in 2005, due mainly to the contribution made by the retail segment

• Greater economies of scale increased net profit margin by 0.68 percent over 2004 to 19.38 percent in 2005

• The Company hadcash and cash equivalents of RMB346.7 million, and no bank borrowings as of 31 December 2005

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