<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published January 13, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Qian Hu posts higher Q4 earnings of $1.74m
Its profits rise 10% despite 7.2% fall in revenue
By VICTOR KATHEYAS
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>
ORNAMENTAL fish group Qian Hu Corporation has reported a 10 per cent year-on-year rise in net profit to $1.74 million for the fourth quarter ended Dec 31, 2008.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Mr Yap: Restructuring between 2004 and 2006 has enabled Qian Hu to be more robust and diversified, and able to swim against the currents of global volatility </TD></TR></TBODY></TABLE>This was despite a 7.2 per cent dip in revenue to $22.9 million.
The fourth-quarter results brought full-year net profit 22.1 per cent up to about $6.04 million and revenue 1.5 per cent up to $93.06 million.
Q4 earnings per share rose to 0.42 cents from 0.39 cents.
Qian Hu attributed the drop in revenue for the fourth quarter to a shortage in supply of Dragon Fish despite rising demand, as well as the spill-over effect of a delay in the roll-out of its accessories products for OEM customers at its Guangzhou factory in the previous third quarter.
The temporary closure of Bangkok International Airport in November 2008 also affected exports of ornamental fish from the Thai capital.
The company said that it managed to achieve higher fourth-quarter earnings, because of more efficient cost controls and improvement in gross profit margins, from 32.1 per cent in the fourth quarter of 2007 to 35.3 per cent in the fourth quarter of 2008.
Qian Hu has proposed a first and final dividend of 0.2 cent per share.
Going forward, Qian Hu intends to increase ornamental fish exports, with special focus on high-growth regions such as the Middle East, Eastern Europe, China and India.
The company has also undertaken notable investments in R&D.
In October 2008, having completed its initial research which began in 2004, it collaborated with Temasek Life Sciences Laboratory to use in-vitro breeding to develop pedigree Asian arowana.
Kenny Yap, Qian Hu's executive chairman and managing director, said that restructuring between 2004 and 2006 has enabled the company to be 'more robust and diversified, and able to swim against the currents of global volatility'.
The counter closed 5.3 per cent higher yesterday at 10 cents.
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Qian Hu posts higher Q4 earnings of $1.74m
Its profits rise 10% despite 7.2% fall in revenue
By VICTOR KATHEYAS
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>ORNAMENTAL fish group Qian Hu Corporation has reported a 10 per cent year-on-year rise in net profit to $1.74 million for the fourth quarter ended Dec 31, 2008.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Mr Yap: Restructuring between 2004 and 2006 has enabled Qian Hu to be more robust and diversified, and able to swim against the currents of global volatility </TD></TR></TBODY></TABLE>This was despite a 7.2 per cent dip in revenue to $22.9 million.The fourth-quarter results brought full-year net profit 22.1 per cent up to about $6.04 million and revenue 1.5 per cent up to $93.06 million.
Q4 earnings per share rose to 0.42 cents from 0.39 cents.
Qian Hu attributed the drop in revenue for the fourth quarter to a shortage in supply of Dragon Fish despite rising demand, as well as the spill-over effect of a delay in the roll-out of its accessories products for OEM customers at its Guangzhou factory in the previous third quarter.
The temporary closure of Bangkok International Airport in November 2008 also affected exports of ornamental fish from the Thai capital.
The company said that it managed to achieve higher fourth-quarter earnings, because of more efficient cost controls and improvement in gross profit margins, from 32.1 per cent in the fourth quarter of 2007 to 35.3 per cent in the fourth quarter of 2008.
Qian Hu has proposed a first and final dividend of 0.2 cent per share.
Going forward, Qian Hu intends to increase ornamental fish exports, with special focus on high-growth regions such as the Middle East, Eastern Europe, China and India.
The company has also undertaken notable investments in R&D.
In October 2008, having completed its initial research which began in 2004, it collaborated with Temasek Life Sciences Laboratory to use in-vitro breeding to develop pedigree Asian arowana.
Kenny Yap, Qian Hu's executive chairman and managing director, said that restructuring between 2004 and 2006 has enabled the company to be 'more robust and diversified, and able to swim against the currents of global volatility'.
The counter closed 5.3 per cent higher yesterday at 10 cents.
</TD></TR></TBODY></TABLE>
