For the full fiscal year, revenue ofor the Eagle Nice group increased from HK$451.4 million ($57.9 mm) to approximately HK$519.3 million ($66.9 mm), an increase of approximately 15%.
The gross profit margin of the Group was approximately 24% for the year, down 40 basis points from 28% of revenues last year. The decrease in gross profit margin was mainly
attributed to (i) an increase in production overhead owing to commencement of operation of the New Production
Plant; (ii) an increase in transportation cost due to increasing crude oil price, (iii) rising material costs resulting
from increasing crude oil price and inflation, and (iv) appreciation of Renminbi resulting in a rise in production
cost of the PRC factories.
Net income for the group decreased 18.4% to HK$77.4 million ($10.0 mm) from HK$94.9 million ($12.2 mm) last year.
