(Hong Kong, 29 November 2018) – Chuang’s Consortium International Limited (“Chuang’s Consortium” or “the Group”) (HKSE: 0367) announced its unaudited interim results for the six months ended 30 September 2018 (“the Period under Review”). During the Period under Review, the Group’s profit attributable to equity holders of the Company increased to HK$507 million (2017: HK$496 million). Earnings per share amounted to 30.34 HK cents (2017: 29.60 HK cents). The board declared an interim dividend of 3.5 HK cents (2017: 3.0 HK cents) per share, representing an increase of 17% over that of the last corresponding period.
During the Period under Review, the Group had closely monitored the construction progress of No. 15 Gough Hill Road, The Peak, Hong Kong in order to speed up the redevelopment of the project. After entering into the supplemental agreement for early completion of the disposal of the project, the Group aims to complete the disposal and receive the remaining proceeds of about HK$980 million in cash before the financial year ending 31 March 2019, and a further net gain of about HK$460 million is expected to be generated to the Group upon completion.
Mr. Albert Chuang Ka Pun, Vice Chairman of Chuang’s Consortium, stated “Chuang’s Consortium has accelerated the progress of the redevelopment of No. 15 Group Hill Road and will continue to closely monitor the early completion of the disposal of the project. The transaction will not only strengthen the financial position of the Group, but also lay a solid foundation for our continual growth. Looking forward, the Group will keep taking proactive steps to further enhance rental yield and return of its investment and hotel properties, speed up the development of various projects and identify new business opportunities including land acquisitions and property investments, with a view to continue to create value for our shareholders.”