Highlights:

FY2013 revenue grew by 14% to $385.4M and gross profit margins remained consistent compared to FY2012.

FY2013 net profit increased by 6% to $17.3M. The percentage growth has not been as much as revenue due to higher expenses.

Proposed final dividend per ordinary share of 1.42 cents gives a total of 2.52 cents of dividend per ordinary share for FY2013, which is
50.8% of total Group’s net profit attributable to equity holders of the Company

My view:

4Q was pretty bad as earnings fell 6% from 1.40 to 1.32 cents, historically 4Q tend to be good so I wonder what when wrong.

Full year earnings came to 4.96 cents which was close to my expectation of 5 cents. Dividends improved by 12% so 2.52 cents is pretty decent.

I think higher rentals and staff cost would likely to continue to ......