K.Wah records revenue of HK$1.0 billion

Analysis, Slider 24 Sep 2014
K.Wah records revenue of HK$1.0 billion

The 2014 Interim Report of K. Wah International Holdings Limited

During the review period the Group recorded stable performance in its core business by launching property projects, In the first half of 2014, the Group recorded attributable1 revenue of HK$1.0 billion, which was mainly derived from the property sales of The Palace and Upstream Park in Shanghai, The Summit in Jiangmen, the joint venture project of Marinella (35% owned by the Group) in Hong Kong, as well as from the rental income of Shanghai K. Wah Centre.

Attributable contracted sales of the Group amounted to approximately HK$1.4 billion, mainly derived from the aforementioned projects under sales, Le Palais and Phase I of J Metropolis in Guangzhou, as well as the joint venture project of Mayfair By The Sea I (15% owned by the Group) in Hong Kong launched this June.

Of the attributable contracted sales of the Group during the period, approximately HK$0.8 billion was recognized in the accounts of the Group for the first half of 2014. Profit attributable to equity holders of the Company during the period was HK$200 million. Basic earnings per share was 7.9 HK cents. The Board of Directors recommended the payment of an interim dividend of 5 HK cents per share, striving to maintain stable returns for shareholders.

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