by millionairemind » Mon Jan 12, 2009 8:39 pm
January 12, 2009, 5.23 pm (Singapore time)
Qian Hu's FY08 net profit rises 22%
By ANGELA TAN
Ornamental fish sellers, Qian hu Corporation Limited, on Monday reported that net profit for the full year ended December 31, 2008 rose 22 per cent to S$6.04 million.
Revenue for the full year was up 1.5 per cent at S$93.06 million.
For the fourth quarter, net profit was up 10 per cent at S$1.74 million. Revenue for the three months period to end December was down 7.2 per cent at S$22.86 million.
Qian Hu said ornamental fish will continue to be an important core business activity of the group. It will focus on high-growth regions such as the Middle East, Eastern Europe, China and India.
The group also plans to increase its visibility in the European continent and target to increase export of aquarium and pet accessories to more than 40 countries within the year.
In China, it intends to further increase its distribution points from the existing 150 locations to more than 200 locations in Year 2009.
'In spite of the lingering global economic situation, we envisage - barring any unforeseen circumstances - continued growth in our revenue and profitability in Year 2009,' Qian Hu said.
It has proposed a first and final dividend payout of 0.2 cents per ordinary share. The previous year, it paid a special interim dividend of 8.54 cents per ordinary share.
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