Shigo Asia AG
Shigo Asia AG: SHIGO plans to pay dividend after successful financial year 2008
Shigo Asia AG / Final Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- - Net profit increased by 41% - Dividend of 20 cents per share recommended - Double-digit growth in 2009 expected Hamburg, 16. April 2009. SHIGO ASIA AG, which has a stock market listing in Frankfurt since May 2008, performed well in 2008: Revenue increased by 59% to EUR 38.3 million (2007: EUR 24.15 million) and net profit went up 41% to EUR 4.71 million (2007: EUR 3.34 million). The Management Board of the company recommends a dividend payment for 2008 of 20 cents per share. As a result of the revenue increase, operating profits amounted to EUR 5.22 million in 2008, an increase of 18% compared to the previous year. Earnings per share increased by 37% to 1.59 Euros in 2008, after 1.16 Euros in 2007. The number of produced blankets grew significantly by 66% to 6.3 million pieces, due to the successful refurbishment of existing production lines in 2008. Further investments in the production capacities will lead to an increase in production capacity of 1 million blankets until the end of the year 2009. The total assets of the company doubled to EUR 34.68 million (2007: EUR 17.34 million). Due to the difficult market environment the company did not completely reach its targeted growth rate of 80%. However, SHIGO ASIA is confident to maintain its double-digit growth in 2009 and beyond. Further growth in the global blanket market offers considerable opportunities to the company. The Annual Report 2008 will shortly be available on the company website www.shigo-asia.com. The Annual Shareholder Meeting is scheduled for May 26, 2009. About SHIGO ASIA SHIGO ASIA AG develops, produces and sells household textiles. The company is the third-largest manufacturer of bedspreads in the world. SHIGO has more than 1 400 employees and observes the highest international standards in its production operations in China. SHIGO's competitive strengths are the development of innovative products and modern production technology. High-quality workmanship and lavish design are outstanding features of the textile products, which are optimised on an ongoing basis with the focus primarily on health and comfort. Disclaimer concerning prognoses Certain statements in this communication contain formulations or terms referring to the future or future developments, as well as negations of such formulations or terms, or similar terminology. These are described as forward-looking statements. In addition, all information in this communication regarding planned or future results of business segments, financial classification numbers, developments of the financial situation, or other financial or statistical data contains such forward-looking statements. The company cautions prospective investors not to rely on such forward-looking statements as certain prognoses of actual future events and developments. The company is neither responsible nor liable for these forward-looking statements. It is not responsible for updating such information, which only represents the state of affairs on the day of publication. Press inquiries: Kirchhoff Consult AG, Janina Wismar Tel.: +49 40/609186-50, janina.wismar@kirchhoff.de 16.04.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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