LAI SUN GARMENT (INTERNATIONAL) LIMITED 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.
This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.
The Board wishes to inform that the Group is expected to record a substantial increase in consolidated profit attributable to owners of the Company for the year ended 31 July 2015 as compared to the consolidated profit attributable to the owners of the Company for the corresponding year ended 31 July 2014. The consolidated profit attributable to owners of the Company for the full year, based on unaudited consolidated management accounts, is expected to be a mix of weaker profit before revaluation of the Group's investment properties and a substantial increase in revaluation of the Group's investment properties during the year under review. Therefore, a substantial increase in the consolidated profit attributable to owners of the Company as compared to the same last year is expected. Shareholders should note that the Group's financial results for the year ended 31 July 2015 have not yet been finalised and is subject to audit by the Company's auditors.
This announcement is made by Lai Sun Garment (International) Limited ('Company', and together with its subsidiaries, 'Group') pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ('Listing Rules') and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance, Chapter 571, the Laws of Hong Kong ('SFO').
The principal activities of the Group include property investment, property development, investment in and operation of hotels and restaurants and investment holding. Based on the preliminary unaudited consolidated management accounts of the Group, the board of directors of the Company ('Board') wishes to inform shareholders of the Company ('Shareholders') and potential investors that the consolidated profit attributable to owners of the Company for the year ended 31 July 2015 are expected to record a significant increase from that of HK$940.5 million for the year ended 31 July 2014.
The expected increase in consolidated profit attributable to owners of the Company for the full year, based on unaudited consolidated management accounts, is expected to be a mix of weaker profit before revaluation of the Group's investment properties and a substantial increase in revaluation of the Group's investment properties during the year under review. Therefore, a substantial increase in the consolidated profit attributable to owners of the Company as compared to the same last year is expected. Shareholders should note that the Group's financial results for the year ended 31 July 2015 have not yet been finalised and is subject to audit by the Company's auditors.
The information contained in this announcement is based on the information that is currently available and the preliminary unaudited consolidated management accounts of the Group which have not yet been audited by the Company's auditors. The audited financial results of the Group for the year ended 31 July 2015 are expected to be published in mid October 2015.
By Order of the Board |
Lai Sun Garment (International) Limited |
Chew Fook Aun |
Executive Director and Deputy Chairman |
Hong Kong, 5 October 2015
As at the date of this announcement, the Board comprises six executive directors, namely Dr. Lam Kin Ming (Chairman), Dr. Lam Kin Ngok, Peter (Deputy Chairman), Mr. Chew Fook Aun (Deputy Chairman), Madam U Po Chu, Mr. Lam Hau Yin, Lester (also alternate to Madam U Po Chu) and Mr. Lam Kin Hong, Matthew; and three independent non-executive directors, namely Messrs. Chow Bing Chiu, Lam Bing Kwan and Leung Shu Yin, William.
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