物業投資
26,400,000 6,900,000 69,700,000
展望
特速集团 2008年报
A n n u a l R e p o r t 2008 ? 二零零八年年報09CHAIRMAN’S STATEMENT
主席報告continued growth of our core businesses and prudent investment strategies, makes us highly competitive. We strive to take advantage of new opportunities and develop new strengths and strategies to thrive in a different world.
We have entered into a letter of confirmation with a security house in Japan to study the feasibility of applying for a secondary listing of and a quotation for its shares on the Tokyo Stock Exchange, however in view of the declines in the prevailing securities market worldwide, we are of the opinion that it is not in the best interests of the Company and the shareholders to proceed with the secondary listing in the present circumstances.
Xpress Finance Limited (“Xpress Finance”) will continue to design tailor made card acquisition programs, spending and retention programs to increase card base and card usage. The unique features of i Xpress MasterCard customization have been widely accepted by the customers, Xpress Finance will continue capture new market segments and its distribution network by issuing affinity/co-branded credit card using this customization platform. To satisfy different demands in the consumer finance market, Xpress Finance will continue to increase its personal loan sales to attract quality customers by direct marketing and telemarketing and widen its sales channel. The Group will also pursue a regional expansion of its credit card and other consumer lending services.
On corporate social responsibility, the Group through Xpress Finance has received the “Caring Company” award for years in recognition of its continuous support to various charity programs.APPRECIATION
On behalf of all the directors, I would like to express my sincere thanks to everyone at Xpress Group for their hard work and contribution, and to our investors, bankers and everyone else for their continuing support. It is also my pleasure to thank all my fellow Board members for the wisdom and guidance rendered so unstintingly throughout a challenging year.CHAN HENG FAI
Managing Chairman
Hong Kong, 28 July 2008 i Xpress 致謝
陳恒輝
特速集团 2008年报
X p r e s s G r o u p L i m i t e d ? 特速集團有限公司
10
MANAGEMENT DISCUSSION AND ANALYSIS
管理層討論及分析
FINANCIAL REvIEw
The Group recorded a turnover of approximately HK$1,431 million for the year ended 31 March 2008, representing an increase of approximately 108% as compared to the year ended 31 March 2007. The increase in turnover was mainly due to the acquisition of Makino Air Travel Service Co., Ltd., Hotel Plaza Miyazaki Limited and Crystal Travel Co., Ltd. in March 2007, June 2007 and July 2007 respectively which contributed approximately HK$394 million to the Group’s turnover. The profit attributable to shareholders for the year ended 31 March 2008 was approximately HK$12.2 million as compared to the HK$40.1 million in 2007.
The earnings per share for the year was HK0.68 cents when compared with HK2.35 cents in last year.
LIqUIDITY AND CApITAL RESOURCES
During the period under review, the Company raised approximately HK$6.5 million from the exercise of options and warrants resulting in the issue of approximately 64.3 million shares. Bank balance and cash amounted to approximately HK$223 million (31 March 2007: HK$192 million).
As at 31 March 2008, the Group’s current ratio was 1.77 (31 March 2007: 3.47) and had a net cash of approximately HK$51.8 million when compared with the gearing ratio of 4.1% in 2007, defined as the ratio of total borrowings less cash balances to total assets.
MATERIAL ACqUISITIONS AND DISpOSAL FOR MATERIAL INvESTMENTS
(a) Increase in investment in eBanker
During the year, an indirect 35.03% owned subsidiary of the Company, eBanker , Inc. (“eBanker”) offer a rights issue to its shareholders on a pro-rata basis at a price of US$0.25 per rights share on the basis of ten rights shares for every three eBanker shares held by the shareholders of eBanker on 26 May 2007. The Group applied excess rights shares and the interest in eBanker was increased from 35.0% to 81.8% upon completion of the rights issue.
(b) Increase of investment in RSI International Systems Inc.
(“RSI”)
During the year, the Group increased its equity interest in RSI from approximately 19% to approximately 30% and RSI was reclassified as an associate of the Group.