China South City (1668.HK) Announces FY2018/19 Interim Results; Profit attributable to owners of the parent amounted to HK$848.2 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 unaudited consolidated interim results of the Group for the six months ended 30 September 2018 (“the Period”).


During the Period, capitalizing on the maturing projects of China South City and in light of the increasing uncertainties in macro-economy, the Group strategically expedited the sales of its residential property and apartment, in order to strengthen the turnover and further improve liquidity, meanwhile enhancing the value-added ancillary services to vigorously tap the demand from the tenants of its integrated logistics and trade centers. During the Reporting Period, the Group achieved a notable contracted sales growth of 24.8% to HK$6,803.0 million (1H FY2017/18: HK$5,449.8 million).


The Group recorded revenue growth of 46%to reach HK$5,212.4million (1H FY2017/18: HK$3,569.8million) for the Period, out of which recurring revenue grew by 19.2%to reach HK$1,036.5 million (1H FY2017/18: HK$869.9million). Profit attributable to owners of the parent of the Group amounted to HK$848.2 million (1H FY2017/18: HK$990.5 million), while its 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, impairment of goodwill and loss on redemption of senior notes) increased by 26.6% to HK$420.1 million (1H FY2017/18: HK$331.9 million).


For details, please refer to the announcement from the below link:
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