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| Monday, 24 June 2013, 11:00 HKT/SGT | |
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Maintained IPO Market Leadership While Strengthening Business Foundation
With Solid Retainer Business and Active Mainland Market Exploration,
Continues High Dividend Payout Policy |
HONG KONG, June 24, 2013 - (ACN Newswire) - Wonderful Sky Financial Group Holdings Limited ("Wonderful Sky" or the "Company", Stock Code: 1260) is pleased to announce its annual results today for the year ended 31 March 2013. During this period, Wonderful Sky achieved a turnover of approximately HK$343.5 million (2012: approximately HK$328.8 million), a year-on-year growth of 4.5%; net profit for the period was approximately HK$123.6 million (2012: approximately HK$120.4 million), a year-on-year growth of 2.7%. Basic earnings per share were HK12.4 cents. The Board of Directors recommended that Wonderful Sky maintain a high dividend payout ratio. A final dividend of HK2.2 cents per share and a special dividend of HK1.1 cents per share for the year ended 31 March 2013 will be distributed, implying a dividend payout ratio of approximately 60% for the period of results.
Financial Summary
-- Revenue of the Group was approximately HK$343.5 million for the year ended 31 March 2013
-- Net profit was approximately HK$123.6 million for the year ended 31 March 2013
-- Basic earnings per share were HK12.4 cents for the year ended 31 March 2013
-- Final dividend of HK2.2 cents per share and special dividend of HK1.1 cents per share for the year ended 31 March 2013 have been recommended by the Board of Directors, representing a dividend payout ratio of approximately 60%
Maintained Market Leadership in IPO Business
The Company managed to maintain its leadership in the IPO business segment on the strength of the recovery in Hong Kong's IPO market since last September. During the period of results, the Company was mandated for seven out of the ten largest initial public offerings in Hong Kong in terms of IPO proceeds raised, including The People's Insurance Company (Group) of China Limited, the largest IPO in Hong Kong in the period. In all, the Company was mandated for sixteen successful initial public offerings on the Hong Kong Stock Exchange in the period of results (as compared with eleven IPO mandates during the previous period of results). In terms of IPO proceeds raised, the Company continues to maintain its unequivocal market leading position. An increasing number of mainland enterprises are expected to explore listing opportunities in Hong Kong, as Chinese enterprises move towards the center stage in Hong Kong's capital market and China's A-share IPO market has been beset by temporary downturn. This would imply great potential for further increase in the number of the Company's IPO clients in the future.
Operations Remained Stable in Volatile Markets from Retainer Clients
A large number of retainer clients helped the Company to weather recent market volatilities and gives the Company the ability to further solidify its leading position going forward. The large pool of over 100 retained clients represents a stable source of revenue and is a great example of the Company's high standards of customer services as most of our retainer clients were converted from our IPO client base.
Sustained High Dividend Payout Ratio
The Board of Directors has always put great emphasis on the importance of having high dividend payout ratio as a part of its core corporate strategy. The Company will continue to pay out 40% to 50% of its after-tax profit as dividend, which is in line with its stable dividend policy as promised in its IPO prospectus. Meanwhile, a special dividend will be distributed in an effort to reward the shareholders' support. At the end of the period of results, a final dividend of HK2.2 cents and a special dividend of HK1.1cents will be distributed, which makes the full-year dividend payout ratio to be approximately 60%.
Establishing a Cross-border Business Platform to Penetrate the Mainland Market
The capital markets in Mainland China, with its depth and high growth potential, represent a natural extension for our existing business. In tune with our growth strategy, a team of experienced professionals has been assembled to explore financial public relations business by building a cross-border service platform. This platform will position the Company to offer cross-border services to our existing clients that are either duel-listed in Mainland China or Hong Kong or have strong service needs in the Mainland. Moreover, there are more than 2,000 A-share listed and more than 50 B-share listed companies in the Mainland many of which may potential choose to be listed in Hong Kong. These companies also constitute a large potential client base for Wonderful Sky.
'Go Global' Footprint
During the period of results, the Company was mandated for several large international roadshow projects. The expansion in our international roadshow business represented a significant landmark for the Company's international aspiration. Looking forward, the Company will continue to seek collaboration with potential partners across the world to widen its business network and to explore business opportunities by leveraging our unique Five-In-One cross-border platform.
On May 1 2013, Mr. Xie Wen Zhao was appointed as Chief Executive Officer and Executive Director of the Company. Mr. Xie has over 10 years of experience in global capital markets, including initial public offerings, mergers and acquisitions, private equity, senior corporate management as well as investor relations. Mr. Xie's arrival will bring more depth to the Company's management team and will help the Company better achieve its strategic visions set out by the Board of Directors.
Looking forward, Mr. Xie said, "While exploring new business opportunities, Wonderful Sky will continue to solidify its existing five core business areas in both Hong Kong and China. At the same time, the Company is well aware of the ever-changing nature of the capital markets and will grow our business in a prudent manner. The Board of Directors and the management are very confident that a well balanced business strategy as well as a diligent and dedicated professional management team will be able to reward our shareholders and all stakeholders alike in the future ".
Topic: Press release summary
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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