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| Successfully secured 92 contracts with contract sums of approximately HK$296 million |
HONG KONG, Nov 6, 2014 - (ACN Newswire) - C Cheng Holdings Limited ("C Cheng Holdings" or the "Group;" stock code: 8320), one of the leading comprehensive architectural service providers in Hong Kong and the PRC, has today announced its 2014 third quarter results for the nine months ended 30 September 2014.
During the review period, the Group recorded a strong 32.5% increase in revenue to HK$293,959,000 (2013: HK$221,839,000). The increase was attributable to the growth in revenue from the provision of services encompassing architecture, landscape architecture, town planning, interior design and heritage conservation over the period. Gross profit amounted to HK$91.2 million, surging 65.4% (2013: HK$55.1 million) and gross margin remained at a stable level at 31.0%. Profit for the review period soared 176.0% to $21.2 million (2013: 7.6 million).
The Group has secured 92 contracts with contract sums of approximately HK$296 million in Hong Kong, the PRC and other markets during the review period; and as at 30 September 2014, the Group had remaining contract sums of approximately HK$1,028 million. Architecture has continued as the mainstream practice of the Group, contributing 91.7% of the revenue.
Mr Ronald Liang, Chairman of C Cheng, said, "I am proud to witness the outstanding financial and operational performance recorded. The Group's experience accumulated in both design and project execution has proven invaluable leading to its achievement today. During the review period, the Group has also established a 3D printing technology company and a themed experience and entertainment design company. Together with the effective application of experience and knowledge in the Group's multi-centre operations model, I am optimistic that its market position will be enhanced and its growth will remain sustainable.
Mr Ivan Fu, Chief Executive Officer of C Cheng, concluded, "In order to maintain the healthy and sustainable growth of C Cheng, we are actively exploring opportunities in five-star high-end hospitality interior design services and art-branding solutions, branch offices expansion and joint venture opportunities. We believe initiatives in these areas could help the Group to secure new clientele and advance new business development; and ultimately strengthen our network and our engagement in overseas markets to strive for greater accomplishments in the future."
Contact:
Strategic Financial Relations Limited
Vicky LEE +852 2864 4834 vicky.lee@sprg.com.hk
Angela NG +852 2864 4855 angela.ng@sprg.com.hk
Rita FONG +852 2114 4939 rita.fong@sprg.com.hk
Topic: Press release summary
Source: C Cheng Holdings Limited
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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