Achieved Stable and Healthy Growth in both Revenues and Net Profit
HONG KONG, March 30, 2011 /PRNewswire-Asia/ -- Shifang Holding Limited (HKEx: 01831) recorded revenues of RMB529.9 million in 2010, representing an increase of 14.4% as compared to last year. This was attributable to the increase in revenue from newspaper advertising, online services, and television and radio advertising.
Profit attributable to equity holders of the Company amounted to RMB161.1 million for the year ended 31 December 2010, representing an increase of 14.4% as compared to the corresponding period last year. Basic earnings per share increased by approximately 11.5% from RMB0.2564 per share to RMB0.2858 per share, reflecting strong revenue and profit growth.
Newspaper advertising is the Group's biggest revenue source, with revenues of RMB408.7 million for the year ended 31 December 2010, representing an increase of 9.9% as compared to the corresponding period last year and accounting for 77.1% of the Group's total revenues. Online services, distribution management, consultation and printing services, and TV and radio advertising businesses amounted to the remaining 12.3%, 7.8% and 2.7% of total revenues respectively.
In order to further expand the customer base and attract more potential customers, Shifang intends to introduce high quality advertising packages and to implement Media Advertising Information Tracking System (MAITS) which will help the Group to strengthen its local operation and provide more in-depth analysis on advertising data to customers who seek to advertise in different locations throughout the PRC.
Mr. Chen Zhi, Chairman of Shifang said, "Leveraging the cost advantage, unique multiple content, multi-city and cross-media operating model the Group will be able to become a leading integrated media operator in the PRC and provide sustainable investment returns to investors."
