Man Sang sees remarkable growth & profit

15 Feb '08

3 min read

Man Sang International Limited announced its results for the nine months ended December 31, 2007, reporting remarkable growth in turnover and profit attributable to equity shareholders.

In the period under review, the Group achieved turnover of approximately HK$318.7 million, representing an increase of 6.2% as compared with the same period last year.

The increase reflected mainly the rise in sales of assembled pearl and non-pearl jewellery. Profit attributable to the equity shareholders also increased, by 48.5%, to HK$49.4 million, attributable to improvement in production efficiency, the gain from disposal of investment property and investment income from effective treasury management. Basic earnings per share were HK4.40 cents, increased by 32.1% comparing to HK3.33 cents in the same period last year.

Heeding climbing production cost, the Group tightened production cost control and practised effective treasury management.

The increase in gross profit margin from 27.8% in last corresponding period to 33.6% in the review period translated into increased shareholder value.

The Group is in a healthy financial position. As at December 31, 2007, it had cash balance of approximately HK$556.6 million.

Its gearing ratio was approximately 0.17. The booming economy in China, the increasing consumer spending in both mainland China and Hong Kong and improving awareness among customers of the Group's products and brand was reflected in the rise in sales of the Group's South Sea pearls and the other profit generating engines, namely assembled pearl and jewellery products.

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