17th Sep 2013 09:04
LONDON (Alliance News) - Camkids Group PLC, the Chinese designer, manufacturer and distributor of teenage outdoor wear and equipment, Tuesday reported a jump in first half-year profits and revenues, driven by investment in sales and marketing, and price increases.
The company maintained its interim dividend at 2.3 pence per share, and said that its long-term outlook remains promising, with full-year results for the current financial year expected to be in line with market expectations.
It also said that it will discontinue its non-core OEM operations at the end of this year, in order to focus on other areas of growth such as steps to commence e-commerce sales, and expansion in fast growing tier three cities in China.
The company reported a 21% increase in revenues in the first half of the year, to CNY433.7 million, compared with CNY358.8 million a year earlier.
Camkids reported a 15% increase in its pretax profit of CNY121.8 million, compared with a pretax profit of CNY105.6 million a year earlier. Its net profit increased by 14% to CNY90.2 million.
It also said that it saw growth in its order book during the period, with a new distributor appointed in Shanghai, and the opening of 75 new stores since the year end.
Camkids Group shares were down 6% or 7.40 pence Tuesday morning, trading at 114.10 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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