Interim Results for the Six Months ended 30 June 2009
18/08/2009
EBT Mobile China plc
(“EBT” or “the Company”)
Interim Results for the Six Months ended 30 June 2009
EBT Mobile China plc, a leading China-based retailer of mobile phone products and services, is pleased to announce its interim results for the six months ended 30 June 2009.
Key Highlights
· Gross margin improved to 15.1% (H1 2008: 12.6%), reflecting operation improvement
· Adjusted operating loss (1) of RMB1.2m (£0.1m) (H1 2008: RMB3.4m, equivalent £0.3m)
· Cash and cash equivalents of RMB65.6m (£5.8m) (2) as at 30 June 2009 (H1 2008: RMB92.6m, equivalent £8.2m)
· Number of stores at period end to 248 (H1 2008: 259)
· Revenue of RMB280.4m (£24.7m) (H1 2008: RMB302.0m, £26.6m)
Zhang Ge, CEO of EBT said, “The business environment is very challenging in the first half of 2009, taking the world-wide economy crisis and Chinese economy adjustment into consideration. EBT has tried to minimize the negative effect from macro-economy and focus on internal operational improvements. These efforts produced an improved operating margin in the first half even though the revenue was negatively affected by the economy. We are continuing these improvements and targeting to be break-even for the full year of 2009 (1) .”
|
For the six months ended 30 June |
|
|
2009
(£’m) |
2009
(RMB’m) |
2008
(£’m) |
2008
(RMB’m) |
%
change |
|
Revenue |
24.7 |
280.4 |
26.6 |
302.0 |
- 7 |
|
Gross profit |
3.7 |
42.3 |
3.4 |
38.2 |
+11 |
|
Gross margin |
15.1% |
15.1% |
12.6% |
12.6% |
+19 |
|
Adjusted operating loss (1) |
(0.1) |
(1.2) |
(0.3) |
(3.4) |
|
|
Operating loss |
(0.8) |
(8.7) |
(0.4) |
(4.0) |
|
|
Adjusted loss after tax (1) |
(0.0) |
(0.4) |
(0.0) |
(0.1) |
|
|
Loss after tax |
(0.7) |
(8.0) |
(0.1) |
(0.7) |
|
|
EPS |
(0.1)p |
4fen |
(0.5)p |
0fen |
|
|
Cash (2) |
5.8 |
65.6 |
8.2 |
92.6 |
|
Note: figures in £ are for illustrative purposes only, all translated using the RMB:£ exchange rate of 11.3379 as at 30 June 2009.
(1) Figures before adjusted items, including share-based payments, exchange difference, financial guarantee, contingent liabilities,
investment loss in a joint venture and acquisition costs. The total figures of adjusted items are RMB7.6m in 2009 (H1 2008:
RMB0.6m).
(2) Cash figures exclude a restricted deposit of £2.8m in 2009, (2008:£3.3m) for standby letters of credit, which is disclosed under deposits and prepayments.
For more information contact: investor@ebtmobile.com.cn
The contents of this Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as EBT "expects", "should", "believes", "anticipates" or words of similar import. Such forward looking statements are subject to certain risks and uncertainties including the financial performance of EBT which could cause actual results, performance or achievements of EBT to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
