Dutech Holdings Limited Announces Unaudited Group Financial Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for 2018
For six months, the company reported revenues of RMB 877,743,000 against RMB 760,200,000 a year ago. Profit from operations was RMB 35,427,000 against RMB 28,752,000 a year ago. Profit before tax was RMB 29,212,000 against RMB 34,196,000 a year ago. Net profit after tax was RMB 25,681,000 against RMB 30,325,000 a year ago. Net cash used in operating activities was RMB 18,839,000 against RMB 24,527,000 a year ago. Purchase of property, plant and equipment was RMB 21,306,000 against RMB 27,355,000 a year ago. Addition of intangible assets was RMB 7,367,000 against RMB 5,867,000 a year ago. EPS on fully diluted basis was 7.20 cents against 8.51 cents a year ago.
The management expects trading conditions to remain challenging. Rising raw materials prices, ATM market shrinking and overhead challenge will serve to affect group performance. On-going trading issues between China and US will bring some uncertainties on Group's future performance. To the positive, gaming machine sales are strong in 2018. As a whole, management expects the Group to remain profitable in 2018.