Futong Technology Development (00465) said its net profit for the year ended 31 December 2014 fell 18.5% to RMB34.4 million. Basic earnings per share for the Year were RMB 11 cents (2013: RMB 14 cents).
During 2014, revenue of the group amounted to RMB3,101.3 million, a decrease of 16.2%. The decline was mainly due to the decrease in traditional direct distribution business and shifted focus to the development of self-branded products and provision of value-added services during the transitional period of business transformation.
Yet, gross profit margin improved to 9.3% from 7.8% year-on-year and gross profit rose by 0.6% to RMB288.9 million, which was mainly attributable to the group's continuous efforts in achieving diversification of products to address market changes and assessing the needs of individual customers through detailed communication.
The board of directors recommended the payment of a final dividend of HK4 cents per share (2013: HK5 cents).
23/03/2015 09:45
Futong Tech (00465) year net down 19% to RMB34.4mn; div HK4c
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