Pacific Century Premium Developments Limited reports HK$1,491 million profit for the financial year ended December 31, 2014

Hong Kong, February 10, 2015

2014 Annual Results Financial Highlights

Consolidated turnover: HK$315 million (2013: HK$674 million)

Consolidated operating profit: HK$381 million (2013: HK$490 million)

Consolidated net profit: HK$1,491 million (2013: HK$77 million)

Basic earnings per share: 94.13 HK cents (2013: 4.89 HK cents)

No final dividend (2013: No final dividend)

Pacific Century Premium Developments Limited ("PCPD", SEHK: 00432), a majority-owned subsidiary of PCCW Limited ("PCCW", SEHK: 00008), has announced its annual results for the year ended December 31, 2014.
The consolidated turnover of PCPD and its subsidiaries (together, the "Group") amounted to approximately HK$315 million, representing a decrease of approximately 53% compared to the figure of approximately HK$674 million in 2013.
The Group's consolidated operating profit (excluding gain on disposal of subsidiaries) amounted to approximately HK$381 million, representing a decrease of approximately 22% compared to the figure of approximately HK$490 million in 2013.
Its consolidated net profit was approximately HK$1,491 million, compared to the net profit of HK$77 million in 2013. The increase in net profit is mainly caused by the gain on disposal of Pacific Century Place, Beijing ("PCP Beijing") in 2014.
Basic earnings per share for 2014 were approximately 94.13 Hong Kong cents, compared to approximately 4.89 Hong Kong cents in the previous year.
The Board of Directors has not recommended the payment of a final dividend for the year ended December 31, 2014.
PCPD's Deputy Chairman and Chief Executive Officer, Mr. Robert Lee, said: "PCPD's project in Jakarta, Indonesia saw encouraging progress in the last few months. The foundation has been laid and the basement wall has been completed; the basement excavation work is now underway."
"We believe that our 40-storey Premium Grade A office building being constructed at the Sudirman CBD of Jakarta will become a highly sought-after business location for multinational companies including international banking corporations."
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About PCPD

Majority-owned by PCCW Limited ("PCCW", SEHK: 00008), Pacific Century Premium Developments Limited ("PCPD" or the "Group", SEHK: 00432) is mainly engaged in developing and managing premium property and infrastructure projects, as well as investing in premium-grade buildings, in Asia.
For media inquiries, please contact
Alfred Siu
Corporate Communications
Tel: (+852) 2514 3914
Email: alfred.wt.siu@pcpd.com
For investor inquiries, please contact
Keith Wat
Investor Relations
Tel: (+852) 2514 3920
Email: ir@pcpd.com

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