3 Aug 2012 16:45
3 August 2012
ASIAN GROWTH PROPERTIES LIMITED
Revaluation of Property Portfolio
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 the Group is likely to record a lower profit for the six months ended 30 June 2012 as compared to the profit recorded for the corresponding period in 2011 based on information currently available to the Company. This is mainly attributable to the fair value gains on the Group's investment properties which are not as high as in the corresponding period in 2011. The decrease in profit will not have any negative impact on the cash flow and the operations of the Group which have been satisfactory for the six months ended 30 June 2012.
As the Company is still in the process of finalizing the interim results for the six months ended 30 June 2012, the information contained in this announcement is only a preliminary assessment made by the Board based on the figures and information currently available, which 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 2012 in late August 2012.
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: +44 207 459 3600
Andrew Potts
Panmure Gordon (UK) Limited
(Nominated Advisor)