Higher profit at Hosen on better sales during Chinese New Year period

Full-year net profit at Hosen Group came in at $1.808 million, up 227.5 per cent from $552,000 a year ago while revenue rose 10.4 per cent to $77.708 million.

The company benefitted from higher seasonal sales of seafood products during the 2013 Chinese New Year festive period as well as higher turnover from the Malaysia and China subsidiaries.

Earnings per share from continuing operations were 0.29 cent and those from discontinued operations were 0.26 cent.

The discontinued operations were due to the sale of the subsidiary, Health Domain, for $1 million. On March 19 last year, Hosen announced the completion of the sale.

Net asset value per share was 8.72 cents at Dec 31, from 8.3 cents a year ago.

A final dividend of 0.2 cent per share was declared, from 0.1 cent a year ago.