China Animal Healthcare proposed dividend

China Animal Healthcare Ltd, which manufactures and distributes animal drugs, posted a net profit of 34.5 million yuan (S$7.7 million) for the fourth quarter ended December 2008. This compares with Q4 2007's net loss of 11.7 million yuan, which factored in a $47.4 million goodwill write-off arising from the reverse acquisition of Colorland Animation. Ignoring the goodwill write-off item, Q4 2008's net profit is just 3.3 per cent lower than Q4 2007's 35.7 million yuan. Revenue for the three months rose 12.9 per cent to 97.3 million yuan. Net profit for 2008 full year climbed 134.6 per cent to 138.3 million yuan from 2007's 58.9 million yuan (taking into consideration goodwill write-off), on the back of a 40.2 per cent rise in revenue to 385.1 million yuan. The company has proposed a first and final tax exempt (one tier) dividend of 2.2 fen per share. This amounts to 20.8 per cent of 2008 net profit.

Sponsored Links