Brilliant RNS. 1.34 a share!!!!!?21 Mar 2016 07:47
Final Results
Fri, 18th Mar 2016 17:27
RNS Number : 6535S
Asian Growth Properties Limited
18 March 2016
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18 March 2016
Asian Growth Properties Limited
Results for the year ended 31 December 2015
Asian Growth Properties Limited (the "Company") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, announces its audited consolidated results for the year ended 31 December 2015 as follows:
Financial Highlights
n Profit attributable to the Company's shareholders of HK$1,336.7 million (£116.4 million) (2014: HK$703.1 million (£58.3 million)).
n Profit attributable to the Company's shareholders (excluding revaluation surplus net of deferred tax) was HK$355.9 million (£31.0 million) (2014: HK$102.8 million (£8.5 million)). The increment was a result of a realized gain of HK$431.8 million (£37.6
million) on the sale of the Fo Tan project after netting off of the increase of HK$163.3 million (£14.2 million) in management fee paid to South-East Asia Investment And Agency Company, Limited ("SEAI"), a wholly-owned subsidiary of S E A Holdings Limited (the holding company of the Company), pursuant to a cost sharing agreement made between the Company, its various subsidiaries and SEAI in 2014 for the use of SEAI's personnel and facilities on a cost-sharing basis for the Company to carrying its business activities. The increase in the said management fee is mainly due to the rise in SEAI's employee benefits during the year under review.
n Earnings per share for profit attributable to the Company's shareholders of HK150.8 cents (13.1 pence) (2014: HK79.3 cents (6.6 pence)).
n Net asset value per share attributable to the Company's shareholders as at 31 December 2015 of HK$16.0 (139.3 pence) (31 December 2014: HK$14.8 (122.7 pence)).
n Geographical location of the Group's property assets were as follows:
31 December 2015
31 December 2014
Hong Kong
HK$10,298.3 million (£896.7 million)
HK$10,177.4 million (£843.7 million)
Mainland China
HK$4,534.2 million (£394.9 million)
HK$4,635.7 million (£384.3 million)
Total
HK$14,832.5 million (£1,291.6 million)
HK$14,813.1 million (£1,228.0 million)
n Gearing ratio of 2.3% (31 December 2014: 9.3%).
n The Board has declared a special cash dividend of HK$1.9 per ordinary share to the shareholders of the Company, payable on Friday, 10 June 2016 on the share register on Friday, 27 May 2016.
Operational Highlights
n Stable gross rental income generated from Dah Sing Financial Centre in Hong Kong and its occupancy rate remains high.
n The hotel operation results of Crowne Plaza Hong Kong Causeway Bay were in general in line with the weaker hotel business environment in 2015.
n Major mixed
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