Fountain Set declares audited consolidated final results

16 Dec '05

2 min read

Knitted fabrics player Fountain Set (Holdings) Limited(Fountain Set) announced it's audited consolidated final results for the year ended August 31, 2005.

Turnover was approximately HK$6,636,298,000; down 2.03 percent compared with FY04.

Profit for the year down 9.83 percent to approximately HK$162,437,000 compared with FY04, however,2H05 up 142.40 percent over 2H04 and 2H05 up 101.59 percent over 1H05.

Net profit margin was 2.45 percent.

Profit before taxation was approximately HK$224,967,000, representing a decrease of 9.53 percent.

Basic earnings per share were 20.46 HK cents.

Return on shareholders' funds over 5.86 percent.

Net bank borrowings ratio improved to 0.62 from 0.75.

Inventory turnover days decreased from 97 days to 85 days, within our 90-days target.

Proposed final dividend of 7 HK cents per share, if approved at the forthcoming AGM, will result in total annual dividend for the year of 10 HK cents per share.

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Fountain Set (Holdings) Limited and its subsidiaries are recognised in the industry as the world's largest circular knitted fabric manufacturer and has long been a driving force in the global market through its vertically integrated operations in spinning, knitting, dyeing, printing and finishing.

The company's product range also includes dyed yarns, sewing threads and garments. As a major fabric supplier to garment manufacturers in over 40 countries that supply to internationally renowned retail brands, Fountain Set's worldwide sales reached HK$6.64 billion (US$851 million)
in the fiscal year 2005.

Fountain Set (Holdings) Limited

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