Golden Meditech FY2010-11 Annual Results
HONG KONG, June 30, 2011 /PRNewswire-Asia-FirstCall/ -- Golden Meditech Holdings Limited ("Golden Meditech," together with its subsidiaries collectively as the "Group," - 801.HK; 910801.TW), a leading integrated healthcare enterprise in China, is pleased to announce the Group's annual results for the year ended 31 March, 2011. During the reporting period, the Group's core businesses reported total turnover of HK$328,066,000, 15% growth compared to the previous year. Profit attributable to shareholders increased substantially by 195% at HK$343,208,000 while basic earnings per share amounted to HK19.9 cents.
Mr. KAM Yuen, Chairman and Chief Executive Officer of the Group, said the results are in-line with Group management's expectations. The remarkable growth in revenue is primarily driven by stable growth in the core businesses of medical devices and healthcare services and contribution from associates and jointly controlled entities. At the same time, management believes the healthcare services, as one of the Group's key strategic businesses, will become a key driver for future growth as it expand its operation under the favourable policy and market environment.
The Group's healthcare services business currently consists of hospital management, medical insurances administration outsourcing business and cord blood banking operation, of which, hospital management demonstrated most significant growth during the review period. Revenue from hospital management (generated from the two haematology hospitals under the Daopei brand name), reported remarkable 55.4% increase in hospital management income to HK$80.4million, accounted for 25% of the Group's total turnover and increased by 7 percentage points compared to the previous year.
On the other hand, the Group has announced two major acquisition transactions, one in Beijing and the other in Shanghai. The Beijing acquisition will increase the bed cou