|Expects 50%+ net profit increase in 2017|
HONG KONG, Jan 22, 2018 - (Media OutReach) - Dah Chong Hong Holdings Limited ("DCH", HKSE: 1828) announced today that based on a preliminary review of the unaudited financial information of the Group, DCH expects to record an increase of more than 50% in its consolidated net profit attributable to shareholders for the year ended 31 December 2017 as compared to the year ended 31 December 2016.
The increase of net profit is attributable to: (i) the favourable improvement in net profit form the Group's Mainland Motor business which benefited from effective margin management and strong market demand for luxury cars during the year; (ii) effective cost management initiatives implemented during the year; and (iii) the full year profit contribution from business acquisitions and disposals. These favorable impacts were partly offset by additional costs incurred in the Group's mainland China Consumer Products businesses which were undergoing restructuring.
The final results of the Group for the year ended 31 December 2017 are expected to be announced in March 2018.
This press release should be read in conjunction with the full text of DCHs HKEx Announcement dated 22 January 2018, which is available on https://www.hkex.com.hk.
Dah Chong Hong ("DCH", stock code: 1828.HK) is an integrated motor and consumer products distribution company operating in Asia with an extensive logistics network. DCH is a leading distributor and dealer of motor vehicles in Greater China and provides a full range of motor related services including maintenance, rental, repair and financing. DCH's consumer products business includes the distribution of food and FMCG, healthcare and electronic products as well as food processing, trading and retail. Dedicated to bringing to quality products to consumers across Asia, DCH is the preferred partner of over 1,000 brands from more than 30 countries with operations in 12 Asian economies. DCH is a subsidiary of China's largest conglomerate CITIC Limited (stock code: 0267.HK), DCH employs over 17,000 staff across the region. For more details, please visit www.dch.com.hk
Ms. Gwen Walters
(852) 2768 2017
Ms. Katherine Tung
(852) 2768 2585
Jan 22, 2018 17:00 HKT/SGT
Topic: Press release summary
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