Asian Growth Properties Limited Revaluation of Property Portfolio (1648A)
February 14 2014 - 11:05AM
UK Regulatory
TIDMAGP
RNS Number : 1648A
Asian Growth Properties Limited
14 February 2014
Asian Growth Properties Limited
14 February 2014
ASIAN GROWTH PROPERTIES LIMITED
Revaluation of Property Portfolio
The board of directors (the "Board") of Asian Growth Properties
Limited (the "Company", together with its subsidiaries, the
"Group") (AIM Stock Code: AGP), the Hong Kong based China property
development and investment company, wishes to inform the
shareholders of the Company (the "Shareholders") and potential
investors that based on information currently available, the Group
is likely to record a decrease in net profit for the year ended 31
December 2013 as compared to that for the year ended 31 December
2012. This is mainly attributable to the less increase in fair
value gains on the Group's investment properties for the year ended
31 December 2013 as compared to that for the year ended 31 December
2012. Notwithstanding the aforesaid, the Board expects to record an
increase in revenue and profit from operations (before fair value
changes on properties) for the year ended 31 December 2013. The
decrease in net profit for the year ended 31 December 2013 will not
have any negative impact on the cash flow and operations of the
Group.
As the Company is still in the process of finalising the annual
results for the year ended 31 December 2013, the information
contained in this announcement is only a preliminary assessment
made by the Board based on the figures and information currently
available, which have not been reviewed and audited by the
Company's independent auditor. The Company expects to announce its
audited annual results for the year ended 31 December 2013 in late
March 2014.
Shareholders and potential investors are advised to exercise
caution when dealing in the shares of the Company.
For more information, please contact:
Lu Wing Chi Tel: +852 2828 6363
Executive Director
Asian Growth Properties Limited
Richard Gray Tel: +44 207 886 2500
Andrew Potts
Panmure Gordon (UK) Limited
(Nominated Advisor)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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