1 Aug 2016 11:40
1 August 2016
ASIAN GROWTH PROPERTIES LIMITED
Performance Update - Positive Profit Alert
The board of directors (the "Board") of Asian Growth Properties Limited (the "Company" and together with its subsidiaries, the "Group") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on the information currently available, the Group is likely to record an increase in net profit for the six months ended 30 June 2016 as compared with that for the corresponding period of 2015. This is mainly attributable to the realised gain on disposal of the property of Dah Sing Financial Centre offset by the realised loss on disposal of the Kaifeng project and the fair value loss on the Group's investment properties during the period under review. For details of disposal of the two properites mentioned above, please refer to the announcements made by the Company on 5 February 2016, 25 February 2016, 2 March 2016 and 19 April 2016.
The Company is still in the process of finalising its interim results for the six months ended 30 June 2016 and such results are subject to review by the Company's independent auditor. The Company expects to announce its unaudited interim results for the six months ended 30 June 2016 before the end of August 2016.
This announcement contains inside information for the purpose of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
For more information, please contact:
Lu Wing Chi Tel: +852 2828 6363
Executive Director
Asian Growth Properties Limited
Richard Gray Tel: +44 207 886 2500
Andrew Potts
Panmure Gordon (UK) Limited
(Nominated Advisor)