Dividend per Share
in Last 5 Years
Basic Earnings per Share in Last 5 Years
Group R&D Expenditure
in Last 5 Years
Selling and distribution costs rose by
10.2% from US$260.0 million in the
previous financial year to US$286.4
million in the financial year 2014. The
increase was mainly attributable to the
increased spending on advertising and
promotional activities by the Group,
especially for the children’s educational
tablets in response to the keen market
competition during the financial year.
As a percentage of Group revenue,
selling and distribution costs increased
from 14.0% to 15.1%.
Administrative and other operating
expenses increased from US$56.8 million
to US$63.8 million over the same period
last year, which was mainly due to the
increase in employee related costs. An
exchange loss of US$0.4 million arising
from the Group’s global operations in
the ordinary course of business was
also recorded in the financial year 2014,
which contrasted with an exchange gain
of US$0.4 million in the last financial
year. Administrative and other operating
expenses as a percentage of Group
revenue increased from 3.1% to 3.3%.
During the financial year 2014, the
research and development expense was
US$58.0 million, an increase of 1.6% over
the previous financial year. Research and
development expense as a percentage
of Group revenue was 3.1%, same as the
last financial year.
Profit Attributable to
Shareholders and Earnings
per Share
Profit attributable to shareholders of the
Company for the year ended 31 March
2014 was US$203.3 million, an increase
of US$1.8 million as compared to the last
financial year. Net profit margin, however,
decreased from 10.8% to 10.7%.
Taxation charges increased from
US$24.1 million in the last financial year
to US$24.2 million in the financial year
2014. The effective tax rate decreased
from 10.7% to 10.6%.
Basic earnings per share for the year
ended 31 March 2014 were US81.1 cents
as compared to US80.6 cents in the
previous financial year.
Dividends
During the financial year 2014, the Group declared and paid an interim dividend
of US16.0 cents per share, which aggregated to US$40.1 million. The Directors
have proposed a final dividend of US64.0 cents per share, which is estimated to be
US$160.6 million.
2014
2013
US cents
US cents
Dividend per share
Interim
16.0
16.0
Final*
64.0
64.0
Total
80.0
80.0
* Final dividend proposed after the balance sheet date
US$ million
56.8 56.8 57.2 57.1 58.0
10 11 12 13 14
0
10
20
30
40
50
60
70
US cents
83.7 81.5 77.0 80.6* 81.1
10 11 12 13 14
0
20
40
60
80
100
US cents
78.0 78.0 76.0 80.0 80.0
10 11 12 13 14
0
20
40
60
80
100
* Restated
8 VTech Holdings Limited
Annual Report 2014
Management Discussion and Analysis
Financial Review
