Belle International Holdings Limited Announcement of Annual Results for the Year Ended 31 December 2008.Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Mar 24, 2009 - (ACN ACN Accenture (stock symbol) ACN Accenture ACN Australian Company Number ACN Automatic Collision Notification (US DOT) ACN Acetonitrile ACN Anglican Communion Network Newswire) - Belle International Holdings Limited ("Belle International", or the "Company"; Stock code: 1880) is pleased to announce the audited consolidated annual results of the Company and its subsidiaries (the "Group") for the twelve months ended 31 Dec. 2008("2008"). The Group's revenue increased by 53.0% to RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) 17,855.8 million in 2008 (2007: RMB 11,671.9 million). This was mainly attributable to the continually steady growth of sales generated from the footwear business and the increase in contribution of the sportswear business as compared with last year. Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. increased by 29.9% to RMB 2,279.3 million (2007: RMB 1,754.9 million). Income tax expense amounted to RMB 257.6 million (2007: RMB 43.2 million). The significant increase was due to the expiration of a two-year exemption from enterprise income taxes in 2006 and 2007 which will be followed by a 50% reduction in enterprise income tax from 2008 to 2010. New Belle, our major domestic operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon , was incorporatedin Shenzhen (a special economic zone where the local enterprise income tax rates is 18% in 2008) is subject to an enterprise income tax rate of 9% in 2008. The income tax rate for the Groups newly acquired businesses of Millies, Senda and Mirabell and sportswear business in mainland China is 25%. Owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de the change in domestic enterprise income tax rate and the absence of the one-off interest income of RMB364.2 million earned from the tied-up fund during the listing in 2007, the profit attributable to the Companys equity holders increased by 1.6% to RMB 2,010.4 million in 2008. Basic earnings per share amounted to RMB 23.82 cents (2007: RMB 25.03 cents). The Board recommended the payment of a final dividend for the year ended 31 December 2008 of RMB 3.5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . In reviewing 2008 results, Mr Tang Yiu, Chairman of Belle International, said, "2008 was a year full of challenges for the consumer retail industry in China. This is also true for the business of the Group.Even in such a difficult operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. the Group still managed to achieve relatively steady growth, in line with our overall business targets formulated at the beginning of 2008. I believe, with distinct advantages such as a progressive management team, healthy finances, a flexible operating model Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. , and brand management capabilities the Group is well positioned to achieve great success in the future." Looking forward, Mr Sheng sheng (Chinese; “sage” or “saint”) In Chinese belief, a mortal who attains extraordinary or supernatural powers by self-cultivation and serves as a model for others. Confucius used the term to refer to exemplary rulers of the past. Baijiao, Chief Executive Officer of Belle International, concluded, "The Group expects considerable revenue growth in 2009. The rapid expansion of the retail network in 2008 from both organic growth and also acquisitions will be the foundation for revenue growth in the next few years especially 2009. New and quasi-new stores we opened in 2008 are coming into maturity, providing the main driver of revenue growth in both footwear and sportswear segments. The long term trend of the Chinese economy is not changing. There will be reasonably high growth going forward because of strong drivers from within the economy. Various measures by the government, including fiscal, monetary, and industrial policies, will begin to have a positive impact on the economy. After experiencing the challenges of a chilly climate we only became stronger, and more agile. With strong managerial systems and prudent business strategies the Group will continue to achieve sustainable growth and maintain our leadership in the industry." About Belle International Holdings Limited Belle International is the largest retailer of ladiesAE footwear in the PRC, based on sales revenue. It offers a wide range of footwear products through its company-managed multi-brand portfolio including Belle, Staccato, Tata, Teenmix, Fato, JipiJapa Jipijapa (hēpēhä`pä), city (1990 pop. 32,225), W Ecuador, on the equatorial lowlands. A few miles inland from the Pacific, Jipijapa is famous for the manufacture of high-grade Panama hats, made from the jipijapa plant. , Millie's, Senda, Basto, Joy & Peace, and Mirabell, etc. Licensed and distribution footwear brands include: Bata, BCBG BCBG Bon Chic Bon Genre , Elle, Scholl, Fiorucci, Clarks, Merrell, Sebago, Caterpillar, Mephisto and Geox, etc. Besides ladiesAE footwear, the Company also sells handbags, accessories and menAEs footwear. The Group is also one of the largest retailers of sportswear in China. The Group distributes sportswear for first-tier brands Nike, Adidas and second-tier brands Reebok Ree´bok` n. 1. (Zool.) The peele. , PUMA, Mizuno, Converse, LiNing and Kappa. Belle International is a leader in the retailing of sportswear and ladies' footwear in China: - For the year 2008, among the top 10 brands in China's leather footwear market in terms of sales Terms of sale Conditions under which a firm proposes to sell its goods or services for cash or credit. revenue, Belle, Teenmix, Tata, Staccato, Senda and Basto ranked first, second, fourth, sixth, seventh and ninth respectively. - Among them the Belle brand took the 1st place in ladies' footwear sales for the 13th consecutive year in China. - On January 30, 2007, the Ministry of Commerce named Belle one of the five most competitive footwear brands in the PRC. - In 2008, the Group was the largest retailer in the PRC for Nike and the second largest retailer in the PRC for Adidas, both leading sportswear brands in the world. As at 31 December 2008, the total number of company-managed retail outlets of the Group reached 9,169. The Group also managed 215 retail outlets in Hong Kong, Macau and Taiwan. Visit www.belleintl.com. Source: Belle International Holdings Limited Contact: Astrid Cheng Wonderful Sky Financial Group T: + 852 2851 1038 ext: 213 F: + 852 2815 1352 E: astridcheng@wsfg.hk W: www.wsfg.hk Copyright 2009 ACN Newswire. All rights reserved. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion