CK Life Sciences International (Holdings) has no definite timetable for paying dividends after recording its first quarterly profit, chief executive Kam Hing-lam said. 'I believe shareholders of biotechnology firms expect the company to develop more products to tap market demand instead of expecting a dividend at an early stage,' Mr Kam said. 'We will not distribute dividends while we are still in the start-up stage.' Mr Kam said the company's financial position was strong enough to support future research and development initiatives. Chief investment officer Edmond Ip Tak-chuen said the company had about HK$2.47 billion in cash and investments. Li Ka-shing's Growth Enterprise Market-listed biotechnology firm this week reported a HK$227,000 profit for the three months to March 31. The figure compared with a loss of HK$22.14 million in the same period last year. Yesterday, it announced it had brought forward to this month the launch of a new pre-cold product amid increased health concerns due to the Sars outbreak. CK Life said VitaGain would help strengthen the body's natural immunity against attacks from viruses and bacteria. The launch of the company's second commercial product after eco-fertiliser NutriSmart had been planned for the second half. Mr Kam said VitaGain would be sold through Watsons retail outlets. It is expected to begin contributing revenue to the group in the second quarter.
