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HONG KONG, May 31, 2012 - (ACN Newswire) - One Media Group Limited ("One Media Group" or the "Group", Stock Code: 0426) today announced its audited annual results for the year ended 31 March 2012 (the "Year").
One Media Group attained a record high revenue of HK$224,183,000 for the year ended 31 March 2012, representing a 12% increase from HK$200,188,000 of the previous financial year. Profit for the year of the Group significantly surged 60% from HK$20,406,000 last financial year to its record high of HK$32,581,000. The Group saw a 23% growth in gross profit, from HK$104,089,000 last year to HK$128,380,000, while gross profit margin improved to 57% from 52% in the last financial year.
These impressive results were mainly attributable to the rise in advertising spending in Hong Kong and Mainland China and the Group's effort in operations restructuring and reallocating resources to the businesses with greater potential.
Earnings per share increased to HK8.1 cents (2011: HK5.1 cents).
The Board of Directors recommended the payment of a final dividend of HK4.00 cents per share for the year ended 31 March 2012 (2011: HK2.00 cents), together with the interim dividend of HK0.90 cent per share, the dividends for the year ended 31 March 2012 was HK4.90 cents per share (Dividends for the year ended 31 March 2011: HK2.75 cents per share).
During the year, the Group's printed magazine titles, in particular "Ming Pao Weekly" , "Top Gear" and "Top Gear", performed strongly. The Group has continued refining its business structure to cater to the market needs. "MING Watch", the Group's first watch magazine and "Travel Planner - Hong Kong, Macao and Taiwan", a new travel guide on Hong Kong, Macao and Taiwan, were added to the Group's magazine portfolio. The new titles have already attracted a number of advertisers and "MING Watch" has begun contributing profit to the Group.
During the year, the Group has further expanded into the multimedia business by acquiring from its parent company Media Chinese International Limited, including 24.97% equity interest of a mobile reading platform provider Byread and an online entertainment platform hihoku. Partyline, a social networking application was also launched.
As at 31 March 2012, the Group stayed in a healthy 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 30 September 2011: zero).
Commenting on the annual results, Mr. LAM Pak Cheong, CEO and Executive Director of One Media Group said, "The Group has gone through a year of restructuring. With new products launched and two multimedia online platforms acquired, our position as Media Chinese International Limited's media flagship in Greater China has become more apparent.
Looking forward, the operating environment in 2012 is expected to remain challenging amid inflationary pressure and economic uncertainties. However, we are confident in enhancing our market penetration through the strengthened business structure. The Group will focus on improving its existing businesses and reinforcing new products and investments, as well as creating multimedia platforms to expand its sources of profit. We will do the utmost to enhance the value for our shareholders."
Contact:
One Media Group Limited
Corporate Communications Department
Tel: (852) 2595-3355 Fax: (852) 2515-0294 E-mail: corpcom@omghk.com
Quam IR
Ms. Anita WAN Tel: (852) 2217-2811 E-mail: anita.wan@quamgroup.com
Ms. Sharon AU Tel: (852) 2217-2812 E-mail: sharon.au@quamgroup.com
Ms. Vanessa LAU Tel: (852) 2217-2814 E-mail: vanessa.lau@quamgroup.com
Fax: (852) 3905-8732
Topic: Press release summary
Source: One Media Group Limited
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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