Financial Highlights
[22 March 2010 - Hong Kong] - The United Laboratories International Holdings Limited ("TUL" or the "Group"; Stock code: 3933), one of the leading manufacturers of antibiotics in the PRC, announced today its annual results for the year ended 31 December 2009.
The Group's turnover grew by 23.6% to a new record of HK$4.64 billion in 2009 (2008: HK$3.76 billion). The Group's profit attributable to shareholders, that showed a 26.9% growth to HK$541 million (2008: HK$430 million), broke the record high as well. Segmental turnover of intermediate products, bulk medicine and finished products were increased by 8.8%, 33.4% and 21.9% respectively in 2009. At the same time, the profit of the three segments grew by 27.1%, 31.7% and 17.5% respectively.
Impacts of the 2008 financial tsunami upon the whole world remained in the first half year of 2009. In the second half of 2009, The Group endeavored to turn crises into opportunities by carrying out measures for reducing cost and enhancing efficiency. This led to significant growth of profit in the second half. The figure tripled and indicated that the Group was strong enough in coping with the market changes and enhancing its profitability. In the second half of 2009, the prices of intermediate products and bulk medicine returned to normal. The restoration of the gross profit margins to a double digit and a growth in the sales volume contributed noticeable profit to the Group. The turnover and profit of finished products beat the previous record again and again. It was mainly due to the strong brand effect of "United Laboratories" and the increase of trained sales force for finished products up to 2,700, which helped enlarge our market coverage.
Turning to 2010, the Group is well prepared and sanguine about the prospect. The tide of financial tsunami has been retreating. Meanwhile, with the gradual investment of the RMB850 billion in medical reform, China has promulgated The Essential Drugs (for the Fundamental Medical and Health Institutions), and strengthened its aid to rural markets. All of them will certainly boost the growth of drug demand. The Group is a leading enterprise in the industry with economy of scale and vast, well-established sales network and personnel, we are confident of acquiring a larger market share which, in turn, will be reflected in the operating results.
Mr. Choy Kam Lok, Chairman of TUL concluded, "2009 is an encouraging year! Despite of the unsatisfactory figures in the first half-year, many key figures of the Group in the whole year 2009 could still break the historical record. This indicated that TUL is a strong company. We operated as an industrial company many years ago and now have developed into a pharmaceutical group running business under our own brand after ongoing reform and growth. It is believed that investors will soon raise their valuation on United Laboratories and our shareholders will gain returns on both operating results and share price."
About The United Laboratories International Holdings Limited
Listed on the Stock Exchange of Hong Kong in June 2007, TUL is one of the leading pharmaceutical companies in China, principally engaged in the manufacturing and selling of medicines, and the bulk and intermediate products used to produce finished goods. As of 31 December 2009, the Group has a total of 173 products qualified to produce in the PRC and/Hong Kong based on the Drug Registration Approvals in the PRC and Certificates of Drug or Product Registration in Hong Kong. 76 were in production, and 34 were listed in Insurance Catalogue. 12 finished products are in the list of National Basic Drugs Catalogue. For more information about TUL, please visit the company's website at www.tul.com.hk.
Issued by Creativeline Communications for and on behalf of The United Laboratories International Holdings Limited. For further information, please contact:
Creativleine Communications
Mr. Wayne Chau / Ms. Sylvia Lau
Tel: (852) 2730 6212/ 6390 9406
Fax: (852) 2736 0745
Email: wayne@creativeline.com.hk / sylvia@creativeline.com.hk
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