Li Ning Company Limited reported unaudited consolidated earnings results
for the six months ended June 30, 2013. For the period, the company
reported revenue of RMB 2,905,908,000 compared to RMB 3,855,403,000 a
year ago.
Operating loss was RMB 38,616,000 compared to operating profit
of RMB 79,856,000 a year ago. Loss before income tax was RMB
129,172,000 compared to profit before income tax of RMB 92,412,000 a
year ago. Loss attributable to equity holders of the company of RMB
184,237,000 or 15.19 cents per basic and diluted share compared to
profit attributable to equity holders of the company of RMB 44,294,000
or 3.85 cents per diluted share a year ago.
Earnings before interest,
tax, depreciation and amortisation (EBITDA) were RMB 57,649,000 compared
to RMB 304,442,000 a year ago. Negative return on equity holders'
equity was 8.2% compared to return on equity holders' equity of 1.2% a
year ago.
Operating cash flows improved and capital structure
rationalized in first half 2013.
In the second half of 2013, the Group expects to begin seeing returns
from the investments made in 2012 and first half 2013 to lift its
financial performance, and anticipates cash flow to continue to improve.
For the full year of 2013, the company expects operating cash flow will
continue to improve, along with its distributors' profitability.
The
company expects the anticipated full year financial loss will be
narrowed compared to 2012.
Company Reports Unaudited Consolidated Cash Flow Results for the Six Months Ended June 30, 2013
The company reported unaudited consolidated cash flow
results for the six months ended June 30, 2013. For the period, the
company reported net cash used in operating activities of RMB
242,787,000 compared to RMB 602,155,000 a year ago. Purchases of
property, plant and equipment was RMB 60,272,000 against RMB 78,559,000 a
year ago. Purchases of intangible assets were RMB 35,810,000 against
RMB 49,016,000 a year ago.
Source Bloomberg
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