LONDON (Alliance News) - Asian Growth Properties Ltd on Friday said it is likely to record higher net profit for 2015 than the prior year, mainly due to net fair value gains on its investment properties and on the sale of an indirectly owned subsidiary which had a stake in land at Fo Tan, Hong Kong.
"As the company is still in the process of finalising its annual results for the year ended December 31, 2015, the information contained in this announcement is only based on the company's preliminary assessment of the consolidated management accounts of the group, which have not been reviewed and audited by the company's independent auditor," Asian Growth Properties said.
Later, the company said it is in talks with an independent third party to sell its Dah Sing Financial Centre investment property in Hong Kong.
The Hong Kong-based China property development and investment company said it is scheduled to report annual results before the end of March.
Shares in Asian Growth Properties were up 4.8% at 16.25 pence on Friday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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