Pacific Textiles net revenue up 25% in FY2007

10 Jul '07

3 min read

Pacific Textiles Holdings Limited, a leading manufacturer of customized knitted fabrics announced its annual results for the year ended 31 March 2007 (FY2007). This is the first set of results since the Group's listing in May 2007. The Group's competitive edge in manufacturing complex, value-added fabrics and its focus on high margin products have delivered superior margin returns and reinforced its leading position in quality knitted fabric manufacturing sector.

In FY2007, the Group recorded revenue of HK$4,203.4 million, up 25% from HK$3,363.0 million last year. The increase in revenue was mainly due to the expansion of its production capacity as well as moderate increase in average selling price. Profit attributable to equity holders also increased by 21% to HK$555.7 million. Net profit margin attributable to equity holders of the Company reached 13.2%.

Sales volume of the Group in the period under review was 154 million pounds (FY2006: 126 million pounds), representing an increase of 22%. During the period under review, the Group closely collaborated with apparel brand owners to design fabrics that meet customized order particulars.

It maintained good relationships with owners of leading brands such as Calvin Klein, Liz Claiborne, Maidenform, Marks & Spencer, Triumph, UNIQLO, VF Intimates and Victoria's Secret.

The apparel brand owners who use our fabrics in their garments, although not our direct customers, are the principal driversof our fabric sales. The Group's top five customers accounted for 31.5% (2006: 30.4%) of its revenue for the FY2007. 49.9% (2006: 53.7%) of our overall sales revenue was derived from our top five brand owners in 2007.

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