Xinyi Solar (00968) said its turnover for the year ended 31 December 2014 surged by 22.5% to reach HK$2,410 million. Gross profit soared 28.5% to HK$760.9 million and net profit skyrocketed by 62.3% to HK$493 million (2013:
HK$303.8 million).
Gross and net profit margins increased to 31.6% and 20.5% respectively. The company said the increase in profit margins was mainly due to continuous optimisation of the group's product mix and rising sales revenue from ultra-clear PV processed glass.
The group's expanded producton capacity of solar glass has also improved its operational cost effectiveness. Starting from the fourth quarter of 2014, solar farms have started to make a profit contribution to the group with income from electricity generation.
Basic earnings per share were 8.42 HK cents (2013: 7.33 HK cents). In addition, the
group is in a strong financial position with cash on hand of HK$542.7 million as at 31 December 2014.
The board proposed payment of a final dividend of 2.4 HK cents per share (2013: 1.8 HK
cents).
02/03/2015 15:50
Xinyi Solar (00968) year net up 62% to HK$493mn; div 2.4cts
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