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Dividends
During the financial year 2015, the Group declared and paid an interim dividend of
US17.0 cents per share, which aggregated to US$42.7 million. The Directors have
proposed a Final Dividend of US61.0 cents per share, which is estimated to be
US$153.2 million.
2015
US cents
2014
US cents
Dividend per share
Interim
17.0
16.0
Final*
61.0
64.0
Total
78.0
80.0
* Final dividend proposed after the balance sheet date
Total operating expenses were
US$390.4 million, a decrease of
4.2% over the last financial year.
Correspondingly, total operating
expenses as a percentage of Group
revenue declined from 21.5% to 20.8%.
Selling and distribution costs declined
from US$286.4 million to US$268.2
million, a decrease of 6.4% compared
with the last financial year. It was mainly
attributable to the decreased spending
on advertising and promotional activities
by the Group during the financial year
2015. As a percentage of Group revenue,
selling and distribution costs reduced
from 15.1% to 14.3%.
Administrative and other operating
expenses increased from US$63.3
million to US$66.1 million over the same
period last year. It was mainly due to
the increase in employee related costs,
which was partially offset by a lower
exchange loss of US$0.3 million arising
from the Group’s global operations
in the ordinary course of business, as
compared with an exchange loss of
US$0.4 million in the last financial year.
Administrative and other operating
expenses as a percentage of Group
revenue increased from 3.3% to 3.5%.
During the financial year 2015, the
research and development expenses
were US$56.1 million, a decrease of 3.3%
compared with the previous financial
year. Research and development
expenses as a percentage of Group
revenue decreased from 3.1% to 3.0%.
Profit Attributable to
Shareholders and Earnings
per Share
Profit attributable to shareholders of the
Company for the year ended 31 March
2015 was US$198.1 million, a decrease of
US$5.7 million or 2.8% as compared to
the last financial year. Net profit margin
also reduced from 10.7% to 10.5%.
Taxation charges declined from US$24.2
million in the last financial year to US$23.6
million in the financial year 2015. The
effective tax rate remained at 10.6%.
Basic earnings per share for the year
ended 31 March 2015 were US78.9 cents
as compared to US81.3 cents in the
previous financial year.
Group R&D Expenditure
in Last 5 Years
US$ million
70
60
50
40
30
20
10
0
11 12 13 14 15
56.8 57.2 57.1
58.0
56.1
Basic Earnings per Share
in Last 5 Years
US cents
* Restated
100
80
60
40
20
0
11 12 13 14 15
81.5 77.0 80.6 81.3* 78.9
100
80
60
40
20
0
11 12 13 14 15
78.0
76.0
80.0 80.0 78.0
Dividend per Share in Last 5 Years
US cents
9
VTech Holdings Limited
Annual Report 2015