Naibu Global International issues maiden final dividend

Naibu Global International, a Chinese manufacturer and supplier of branded sportswear, has announced a maiden final dividend of 4.0p per share on the back of a 4.3 per cent increase in pre-tax profit and 'robust' cash generation.

Pre-tax profits rose to RMB 360m (2011: RMB 345m) on revenues of RMB 1,677m, up 12.4% from RMB 1,492m, driven by rising demand forbranded leisurewear, sportswear and equipment in Naibu's target Chinese market.

Earnings per share for the year total RMB 4.94, compared to RMB 5.67 the previous year.

The operating margin suffered somewhat due to initial public offering costs and its continued investment programme in research and development.

Huoyan Lin, Executive Chairman of Naibu, said: "The board is pleased to have successfully joined AIM in April 2012 and to have achieved positive growth in terms of both revenue and profits before tax. Naibu's investment during the period in R&D, as well as advertising, sales and distribution, will support the ongoing focus on driving sales and building the brand as an affordable leading fashion sportswear brand.

"The board also continues to strive to maintain the solid margins that have been achieved to date. The group's focus remains on second and third tier cities, and Naibu has benefited from the ongoing urbanisation that is occurring in China.

"The group is pleased to be announcing its maiden final dividend of 4.0p per share, a strong indication of the board's confidence in the future growth potential for Naibu given its robust position in this growing market."

The share price rose 9.1% to 90p by 14:00 Tuesday.

NR