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Golden Meditech Releases FY2008/09 Q3 Results
Date:2/13/2009

HONG KONG, Feb. 13 /PRNewswire-Asia-FirstCall/ -- China's leading integrated medical device and healthcare services provider, Golden Meditech Company Limited ("Golden Meditech" or "the Group"; HKEx: 8180) is pleased to announce today the third quarterly results of financial year 2008/09 for the period ended December 31, 2008. The Group recorded HK$377,707,000 of revenue from key businesses, an increase of 25% on a year-on-year basis.

During the reporting period, the Group's umbilical cord blood bank operations has sustained its strong growth momentum and reported a 71% growth of revenue, accounting for 41% of the Group's total.

Mr. KAM Yuen, Chairman and CEO of Golden Meditech, said the Group's operating profits (excluding investment income(losses) and one-time gains) totaled HK$212,549,000 over the past nine months, representing an increase of 18% over the corresponding period last year. This illustrates the steady and healthy growth and profit-generating capabilities of all key business divisions, he noted.

He attributes the Group's sustained growth to the mounting sales of cord blood bank services and the one-time consumables of ABRS devices, which surged by 71% and 32% respectively. In the initial nine months of this year, the Cord Blood Bank division reported 40% increase of new sign-up customers and contributed up 41% to the Group's total revenue. Medical Device Segment account for 52% of the Group's total.

Over the past nine months, the Group's profits attributable to equity shareholders, however, declined because of increased corporate income tax, absence of one-off exceptional items and losses from investment activities under the impacts of the global financial crisis.

He emphasized that China's healthcare industry will continue to grow despite uncertainties brought to the economy by the global financial crisis. The management has made all efforts to susta
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SOURCE Golden Meditech Company Limited
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