Annual Report 2015 and Presentation to Shareholders
Sydney, Mar 15, 2016 AEST (ABN Newswire) - During its maiden year as a listed company, we are pleased to report that Traditional Therapy Clinics Ltd (
ASX:TTC) (TTC) delivered both business and earnings growth strategies set at the time of the IPO.
TTC delivered $25.9m in earnings before interest, depreciation and tax (EBITDA) and $17.1m in net profit after tax (NPAT) result for FY2015.
Operationally, we were pleased to open our 300th clinic during the year which was a significant milestone for the group. At the end of 2015 we are proud to have established 333 clinics throughout China. Importantly, during the year progress was made in delivering on our strategy to own a larger proportion of our clinics. Eight previously franchised businesses were acquired by the group taking total owned clinics to 19.
Financial Achievements
- Successful IPO and Listing on the ASX raising $15 million
- Revenue $44.8 million up 45.1% compared to the Revenue for the prior corresponding period (pcp)
- EBITDA $25.9 million up 34% compared to the EBITDA for the pcp
- NPAT $17.13 million up 31.6% compared to the NPAT for the pcp
- Earnings Per Share A 7.7 cents based on shares outstanding at 31 December 2015
- Final Divided 2.5 cents per share (unfranked)
- Full year Dividends of 4.2 cents per share being an 8.4% yield on the IPO price
Operational Highlights
- 36 new franchised stores opened in FY2015, an increase of 13% from pcp
- 8 stores acquired and operated by TTC (FY2015 total: 19 clinics, 73% higher than the pcp)
- Every owned clinic opened for the full 2015 year showed growth year on year with like for like sales growth of 6.8% and EBITDA growth of 8.3%
- 4,215 new therapists trained, 365 more than planned in FY2015
- Cultural Palace Clinic receives National Advanced Group status, the highest level of recognition in the Chinese service industry
To view the full Annual Report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TTC-912616.pdf
To view the Company's 2015 Full Year Results Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TTC-912620.pdf
About Traditional Therapy Clinics Ltd
Traditional Therapy Clinics Limited (ASX:TTC) is a franchisor and the owner of one of the largest chains (by number of clinics) of traditional therapeutic health and wellness clinics in China. It currently has 343 franchised clinics and 35 owned clinics in operation. It is a well established business with a strong growth profile, employing a repeatable and scalable business model.
TTC has a highly recognised and respected brand, having received the prestigious Chinese Well-Known Trademark designation from the State Administration for Industry and Commerce. It operates within a strongly regulated industry sector of significant scale, which offers opportunity for further growth.
TTC is an ASX listed company employing around 1,000 staff across 27 of the 33 administrative divisions in China. More information is available at https://www.ttc-ltd.com/
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