Far East Global Group records new contract value of HK$1,661 million

Analysis, Slider 14 Oct 2014
Far East Global Group records new contract value of HK$1,661 million

The Group, which is involved in property holding business; and building construction and project management activities recorded a new contract value of HK$1,661 million in the nine months ended 30
September 2014.

Representing a growth of 24.0% as compared with the same period last year, and hence achieved an 83.1% completion of the full year target of 2014 (which is not less than HK$2,000 million).

As of 30 September 2014, the on-hand contract value amounted to approximately HK$3,687 million, among which the backlog was approximately HK$2,821 million (representing an increase of 35.7% as compared to the backlog as of 30 September 2013), which meets the Group’s expected future works.

Major New Contracts Awarded in 3Q 2014:

General Contracting of Emperor Hotel, Hong Kong (the first general contracting project after the Group’s acquisition of Treasury Construction Engineering Limited, with an attributable contract value of about HK$530 million).

 *Includes general contracting project awarded in Hong Kong

*Includes general contracting project awarded in Hong Kong

Operating Results for the Nine Months Ended 30 September 2014

or the nine months ended 30 September 2014, the unaudited revenue of the Group was about HK$1,147,669,000 (30 September 2013: HK$1,200,658,000). Some of the new projects in Macau are still at their early preparatory stage, revenue contribution of such projects will increase gradually. The operating profit was about HK$25,813,000 (30 September 2013(restated): HK$16,773,000).

Shareholders of the Company and potential investors should note that all financial information contained in this announcement is unaudited. Accordingly, such information shall in no way be regarded as to provide any indication of or assurance on the financial results of the Group for the nine months ended 30 September 2014. –

 

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