Preliminary Final Report for 2015
Melbourne, Feb 29, 2016 AEST (ABN Newswire) - FY2015 has been an outstanding year for XPD Soccer Gear Group Ltd (
ASX:XPD). The team has delivered continued growth in revenue and profit, whilst managing the successful listing of the Group on the ASX. We continued to increase XPD distributors and retail outlets in China, and invested significantly in XPD brand marketing and promotion.
- Sales revenue of FY2015 increased by 35.9% to $102.3million when compared to FY2014 as a result of continued expansion of sales channels and network, and increased in sale of XPD brand footwear in particular soccer footwear.
- The gross profit margin has maintained at 33%.
- Net profit (excluding non-recurring costs associated with the IPO) increased by 11.4% to $17.05 million for FY2015 from $15.3 million in FY2014. Such increase in net profit during the period was primarily due to an increase in sales and marketing effort by the Company.
- Total sales and marketing expenses for FY2015 amounted to approximately $6.9 million (FY2014: $3.0 million), representing an increase of 130% from FY 2014. The increase was mainly attributable to increased expenses associated with advertising and promotion activities for our brand and increase in staff costs.
- Total administrative expenses for FY2015 amounted to $3.0 million (FY2014: $0.9 million), representing an increase of 233% when compared to FY2014. The increase was mainly caused by increased staff costs, consulting costs and donations made to schools and community.
- Foreign exchange translation gain of $2.2million, arising from the appreciation of RMB against AUD during the year.
- Maintaining strong cash position of $37.7million as at 31 December 2015 with sound net operating cash inflow of $13.0million for FY 2015.
About XPD Soccer Gear Group Limited
XPD Soccer Gear Group Limited is a leading and fast-growing sportswear company in China. It has developed a vertically integrated business model, through which it designs, develops, manufactures, markets and distributes sportswear products under the "XPD" brand. It started as an Original Equipment Manufacturer (OEM) on footwear products for renowned international brands in 1992.
XPD has been employing a focused business strategy on soccer sector since 2004 whilst it offers products for other sports.
XPD has established an extensive supply chain management system through in-house and sub-contracted manufacturing operations, and an extensive distribution network of over 2,000 retail outlets throughout China.
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http://media.abnnewswire.net/media/en/docs/ASX-XPD-909726.pdf
About XPD Soccer Gear Group Ltd
XPD Soccer Gear Group Ltd (ASX:XPD) is a leading and fast-growing sportswear business in China. The Company listed on the Australian Securities Exchange on 21 May 2015.
The company is primarily engaged in the design, development, manufacturing, marketing and distribution of sportswear products under the “XPD” brand. XPD has a focused branding strategy on soccer products including soccer boots, soccer gear and accessories.
XPD has established an extensive supply chain management system through in-house and sub-contracted manufacturing operations; and an extensive distribution network throughout China.
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