Noel Gifts makes higher profit, proposes bigger dividends

Noel Gifts International has delivered a 54.1 per cent rise in net profit to $4.9 million on the back of a 9.3 per cent increase in revenue to $28.1 million.

The gain in revenue was due to better results from increased marketing efforts. Correspondingly, gross profit increased by 8.9 per cent to $13.2 million.

Earnings per share grew to 4.8 cents from 3.12 cents previously while net asset value per share climbed to 32.19 cents from 28.74 cents.

The group expects uncertainties in the economics conditions, the rising trend in staff and operating costs to impact the its results.

Its gifts business is expected to remain profitable.

A final dividend of 0.3 cent per share plus special dividend of 1.2 cents a share were proposed, higher than its total payout last year of 1.3 cents a share.