China South City (1668.HK) Announces FY2017/18 Annual Results; Net profit attributable to owners of the parent amounted to HK$4,511.7 million  

China South City Holdings Limited (“the Company”; SEHK: 1668), the leading large-scale integrated logistics and trade center developer and operator in China by gross floor area, together with its subsidiaries (the “Group”), announced the consolidated annual results of the Group for the twelve months ended 31 March 2018 (“the Period”).


During the Period, the Group gradually entered into phase of operation and started to see the fruits of rewards, further speed up the development of its five key recurring businesses, namely rental business, property management, E-commerce, logistics and warehousing services, as well as outlet operations. During the Period, the Group achieved a notable contracted sales growth of 39.3% to HK$12,025.9 million (FY2016/17: HK$8,635.7 million).


The Group recorded revenue growth of 20.0% year-on-year to reach HK$9,405.4 million (FY2016/17: HK$7,838.5 million) for the Period. Recurring revenue grew 26.4% year-on-year to reach HK$2,020.0 million (FY2016/17: HK$1,598.0 million). Net profit attributable to owners of the parent grew 4.4% year-on-year to reach HK$4,511.7 million (FY2016/17: HK$4,322.6 million). Core net profit attributable to owners of the parent (being net profit attributable to owners of the parent excluding fair value gains on investment properties and related tax effects, provision for impairment loss of available-for-sale investments and loss on redemption of senior notes) grew 19.0% year-on-year to reach HK$1,608.5 million (FY2016/17: HK$1,351.2 million). Basic earnings per share rose to HK56.35 cents (FY2016/17: HK53.99 cents).


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