[For immediate release] TONTINE WINES 2011 REVENUE INCREASED BY 18% TO RMB830M * * * * ACHIEVE INDUSTRY LEADERSHIP THROUGH SYNERGIES OF INTEGRATED STRENGTHS AND RESOURCES VIA M&A Financial Highlights
Year Ended 31 December
|
(RMB'000) |
2011 |
2010 |
|
Revenue |
830,084 |
703,514 |
|
Gross Profit |
479,086 |
413,871 |
|
Profit and Total Comprehensive Income for the Year |
188,835 |
208,125 |
|
Gross Profit Margin |
57.7% |
58.8% |
|
Net Profit Margin |
22.7% |
29.6% |
|
Earnings per Share (RMB cents) |
9.4 |
11.9 |
(Hong Kong, 23 March 2012) - China Tontine Wines Group Limited ("Tontine Wines" or the "Group", Stock code: 0389), one of the largest sweet wine producers in the PRC, today announced its audited annual results for the year ended 31 December 2011.
The Group recorded a strong revenue growth of 18.0% to RMB830 million due to a satisfactory increase in sales volume. Profit and total comprehensive income for the year attributable to owners of the Company decreased by 9.3% to approximately RMB189 million mainly due to (i) the newly imposed city construction tax and education surcharge to the Group's subsidiaries in mainland China; (ii) the exchange loss due to Renminbi exchange rate fluctuation and (iii) the share option expenses for the share option granted during 2010. Mr. Wang Guangyuan, Chairman and Executive Director of Tontine Wines, said, "China still achieved a satisfactory growth in 2011. We believe that the Chinese economy is still in good shape. We could see that the consumer sentiment and demand for high quality products are robust and that there is a raising trend that many people are now looking for a natural and healthy lifestyle. Based on our core competences and unique competitive advantages in grape wines products, especially in sweet wine products, we should be able to take advantages of this opportunity to expand our business, and to increase our revenue by introducing different types of high-end grape wine products and strengthening our products mix."
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