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HONG KONG, Nov 27, 2011 - (ACN Newswire) - One Media Group Limited ("One Media Group" or the "Group", HK: 0426) today announced its unaudited interim results for the six months ended 30 September 2011 (the "Period").
For the six months ended 30 September 2011, the Group's revenue amounted HK$97,148,000, a 9% up from the same period last year (2010: HK$89,318,000). The increase was attributable to the improvement in the results of both Hong Kong and Mainland China operations.
Gross profit increased by 16% to HK$51,176,000 (2010: HK$44,004,000) while gross profit margin increased from 49% same period last year to 53%. Profit after tax increased by 28% to HK$7,186,000 compared with HK$5,633,000 of the corresponding period last year. The satisfactory growth in the profit was driven by the improved results of the Group's automobile magazines.
Earnings per share increased to HK1.80 cents (2010: HK1.41 cents).
The Board of Directors recommended the payment of an interim dividend of HK0.90 cent per share for the six months ended 30 September 2011 (2010: HK0.75 cent).
The Group's printed magazine titles generated considerable income to the Group. The Group has further expanded its business into digital media, enabling the Group to utilise its contents to develop a multimedia entertainment platform in the Greater China region. During the Period, the Group completed two acquisitions from its parent company Media Chinese International Limited, including a 24.97% equity interest of ByRead group of companies, an online reading platform provider, and hihoku, an online platform that focuses on providing quality entertainment content in multimedia channels.
As at 30 September 2011, the Group maintained a strong financial position with no bank borrowings. The Group's gearing ratio calculated as a ratio of total bank borrowings to the total equity attributable to the equity holders of the Group was zero (as at 31 March 2011: zero).
Mr. LAM Pak Cheong, CEO and Executive Director of One Media Group, commented on the interim results and said, "Amidst volatile market condition worldwide, Hong Kong and Mainland China recorded steady economic growth during the Period. Owing to the Group's strong market position and the ongoing process of repositioning as a multimedia group in Greater China, the Group achieved satisfactory results for the period. In the second half year ahead, the Group will continue to exercise cost control measure and launch new products, as well as seeking for new sources of income. We still see a positive outlook in the second half year ahead."
Contact:
One Media Group Limited
Corporate Communications Department
Tel: +852-2595-3355
Fax: +852-2515-0294
E-mail: corpcom@omghk.com
Topic: Earnings
Source: One Media Group Limited
Sectors: Daily Finance, Broadcast, Film & Sat
https://www.acnnewswire.com
From the Asia Corporate News Network
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