DGAP-News: Asian Bamboo reports a record gross profit margin in Q2
(firmenpresse) - Asian Bamboo AG / Half Year Results
12.08.2010 00:01
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Hamburg, 12 August 2010 - Asian Bamboo AG ('Asian Bamboo', 'the Company',
ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a
world-leading producer of bamboo trees and organic bamboo shoots, is
pleased to announce that its strong operational performance continued in
Q2. Excluding paper sales, revenue rose year-on-year by EUR 6.7 million
(45%) to EUR 21.8 million (2009: EUR 15.1 million). The gross profit margin
was 46% (2009: 35%), which is the highest ever recorded during the
seasonally weaker second quarter. The high gross profit margin was the
result of an improved product mix, higher prices and increased sales to
partner companies.
Excluding non-recurrent items, the company recorded the following
year-on-year performance in the first half of the year:
* Revenue: up by EUR 12.9 million (50%) to EUR 38.7 million (2009: EUR 25.8
million)
* Gross profit margin: three percentage points higher at 52% (2009: 49%)
* Adjusted net profit: up by EUR 8.1 million (63%) to EUR 21.1 million
(2009: EUR 13 million)
* Adjusted net profit margin: four percentage points higher at 54% (2009:
50%)
Including the actual costs for the Stock Appreciation Rights (SARs), but
excluding other non-recurrent items, the adjusted net profit was up 47% at
EUR 19.1 million and the adjusted net profit margin was 50%
The solid increase in revenue and adjusted net profit was the result of the
additional income derived from a larger plantation size, increased sales to
our partner companies, price inflation and a strengthening currency.
Lin Zuojun, CEO and founder of Asian Bamboo, commented: 'We are well
positioned to continue our growth as following the capital increase, we had
a cash balance of around EUR 74 million at the end of the quarter. We are
currently planning to lease at least 5,000 ha in the second half of 2010
and thereafter around 10,000 ha per year. At this pace, we will reach a
total plantation size of at least 70,000 ha by Q1 2013.'
Xinrixian Village Development Fund supports school children
One of the key priorities of the Xinrixian Village Development Fund is to
support children's education. Asian Bamboo is proud to report to have
initiated a major programme called 'EducAid' which is aimed at schools in
the districts where the company's plantations are located. As part of the
programme, the fund donates school supplies, books, sporting goods and
grants to seven primary schools. In addition, 26 underprivileged students
will receive continuous financial support until their graduation from
primary school.
For enquiries, please contact:
Asian Bamboo AG:
Peter Sjovall +852-9385 3868
Chief Financial Officer
Anja Holst +49-(0)40 37644 798
Investor Relations Manager
12.08.2010 00:01 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Asian Bamboo AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 798
Fax: +49 40 37644 500
E-mail: info(at)asian-bamboo.de
Internet: www.asian-bamboo.de
ISIN: DE000A0M6M79, DE000A0M6M79
WKN: A0M6M7, A0M6M7
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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Datum: 12.08.2010 - 00:01 Uhr
Sprache: Deutsch
News-ID 31964
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Kategorie:
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