Golden Meditech Reports Fiscal 2008/09 Results

Golden Meditech has posted its annual results for the year ended 31 March 2009. The company recorded turnover of HK$498 million, representing an increase of 18% from last year.

The medical device segment and the healthcare service segment contributed 56% and 44% to the group’s total revenue, respectively. The group’s gross profit margin was maintained at 71%.

The group recorded about HK$82.8 million in other net losses. Excluding such one-time losses and the associate’s non-cash impairment charge on certain intangibles, the group’s adjusted net profit was up 28% from the previous year.

The Healthcare service segment reported strong revenue growth of the Cord Blood Bank division during the year, with the division’s total turnover increasing by 61%. The Guangdong Cord Blood Bank reported a 221% growth in sales, as compared to the previous year.

Kam Yuen, Chairman of Golden Meditech, said: The Medical Devices Segment broadened its products range and launched two new products namely the Plasma Exchange System and the Accelerated Thermostatic Infusion Pump. We expect the new products will become additional growth drivers for the Medical Devices Segment.

To capture the unique opportunities brought by new medical reforms in China, the Group strategically extended its footholds in the hospital management and services industry. Synergistic effects with the existing businesses resulted and the move helped us to provide all round healthcare products and services to the Chinese public through our integrated operations. This also enhanced the Group’s competitiveness in China, he added.