Chun Wo Development : Interim Results for the Six Months Ended 30 September 2015
November 23, 2015 at 09:18 am EST
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated in Bermuda with limited liability)
(Stock Code: 00711)
INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015
FINANCIAL HIGHLIGHTS
Six months ended 30 September
2015
2014
HK$'000
HK$'000
Total revenue
4,068,502
3,967,564
Profit attributable to shareholders of the Company
218,281
20,485
Earnings per share
HK15.52 cents
HK1.89 cents
30 September 2015
31 March 2015
Equity per share*
HK$1.28
HK$1.20
* Equity per share refers to equity attributable to shareholders of the Company divided by the total number of issued ordinary share capital as at 30 September 2015 and 31 March 2015 respectively.
INTERIM RESULTS
The Board of Directors (the 'Board' or the 'Directors') of Chun Wo Development Holdings Limited (the 'Company') is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively, 'Chun Wo' or the 'Group') for the six months ended 30 September 2015, together with the comparative figures for the corresponding period in 2014 as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the six months ended 30 September 2015 (Unaudited)
Six months ended 30 September
2015
2014
Notes
HK$'000
HK$'000
REVENUE
3
4,068,502
3,967,564
Cost of sales
(3,867,298)
(3,753,988)
Gross profit
201,204
213,576
Other income and gains, net
222,570
17,170
Selling expenses
(1,193)
(6,930)
Administrative expenses
(171,950)
(156,236)
Other expenses, net
(49)
(541)
Finance costs
4
(20,493)
(18,696)
Share of profits and losses of associates
4,895
1,900
PROFIT BEFORE TAX
5
234,984
50,243
Income tax
6
(16,247)
(24,342)
PROFIT FOR THE PERIOD
218,737
25,901
OTHER COMPREHENSIVE INCOME/(LOSS)
Items to be reclassified to profit or loss in subsequent periods:
Exchange differences:
Translation of foreign operations
(25,530)
(424)
Share of movements in exchange fluctuation reserves of associates
(44)
135
OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE PERIOD, NET OF INCOME
TAX OF NIL
(25,574)
(289)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
193,163
25,612
Six months ended 30 September
2015
2014
Note
HK$'000
HK$'000
PROFIT FOR THE PERIOD ATTRIBUTABLE TO:
Shareholders of the Company
218,281
20,485
Non-controlling interests
456
5,416
218,737
25,901
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD ATTRIBUTABLE TO:
Shareholders of the Company
192,707
20,196
Non-controlling interests
456
5,416
193,163
25,612
EARNINGS PER SHARE ATTRIBUTABLE TO SHAREHOLDERS OF THE COMPANY
8
Basic
HK15.52 cents
HK1.89 cents
Diluted
HK14.20 cents
HK1.89 cents
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 September 2015 (Unaudited)
30 September
31 March
2015
2015
Notes
HK$'000
HK$'000
NON-CURRENT ASSETS
Property, plant and equipment
9
323,122
320,289
Investment properties
190,111
250,276
Investments in associates
271,529
267,055
Amount due from an investee company
-
158,200
Deferred tax assets
747
617
Total non-current assets
785,509
996,437
CURRENT ASSETS
Costs and deposits paid for acquisition of
a land use right for property development
224,592
224,805
Land held for property development
349,793
362,705
Properties under development
254,293
250,924
Properties held for sale
19,272
22,032
Amounts due from contract customers
2,180,452
1,730,396
Trade receivables
10
1,480,550
1,457,137
Prepayments, deposits and other receivables
550,657
523,802
Income tax recoverable
4,954
6,690
Equity investments at fair value through profit or loss
180
165
Restricted cash and pledged deposits
416,361
590,426
Cash and cash equivalents
1,021,556
702,661
6,502,660
5,871,743
Assets of a disposal group classified as held for sale
ASIA ALLIED INFRASTRUCTURE HOLDINGS LIMITED, formerly China City Construction Group Holdings Limited, is a Hong Kong-based investment holding company principally engaged in construction engineering businesses. The Company operates through three segments. Construction Work segment is engaged in the provision of civil engineering, electrical and mechanical engineering, as well as foundation and building construction services. Property Development and Investment segment is mainly engaged in the development, sales and leasing of residential and commercial properties. Professional Services segment is engaged in the provision of security, cleaning and other property management-related services.
ASIA ALLIED INFRASTRUCTURE HOLDINGS LIMITED 
