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| Successfully secured 125 contracts; and honored with 6 awards |
HONG KONG, Mar 24, 2015 - (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, today announced its annual results for the year ended 31 December 2014.
During the year, the Group recorded a strong growth with revenue surged 18.6% to approximately HK$384.4 million (2013: HK324.0 million); and profit soared 153.2% to approximately HK$28.3 million (2013: HK$11.2 million). These were mainly attributable by the increase of revenue generated by the provision of service of architecture as well as the increase of revenue generated from the provision of service of landscape architecture, town planning, interior design and heritage conservation. Gross profit for the year amounted to HK$114.6 million, representing an increase of 23.9% (2013: HK$92.4 million) and gross margin remained at a stable level at 29.8%.
The Group has secured 125 new contracts with contract sums of approximately HK$433.0 million in Hong Kong and the PRC. As at 31 December 2014, the Group had remaining contract sums of approximately HK$1,064.0 million. Architecture, contributing 90.3% of the revenue, continued to be the mainstream of practice of the Group. During the year, a new office in Manila was established to further strengthen the Group's premium design services to other branch offices and cater to the regional opportunities in the Philippines.
In the past year, the Group through its various efforts was presented with six awards for its commercial, residential design excellence and community volunteer services. This reflect the Group's continuous efforts in making improvements in regards to both the hardware and software internally, and the Group believes this comprehensive approach will enable the Group to face challenges and constitute a sustainable direction in the future.
Mr. Ronald Liang, Chairman of C Cheng, said, In spite of the slowdown in the marco economic growth and consolidation in the PRC, the Group still managed to announce a satisfying financial results with encouraging performance. Apart from placing focus to our existing operations and business developments, the Group has carried on investing in sectors related to 3D printing and thematic designs in respect of amusement parks and entertainment centers. These new developments enable the Group to further enhance and complement its traditional sectors, and provide potential new revenue streams. All in all, the proven track record and new investments put the Group in a strong position to take advantage of the business opportunities ahead, and reinforce its leading market position amid the intense competition."
Prospects
In 2015, the Group will continue to be a one-stop design solution provider with the systematic application of its multi-centre operation model. Leveraging its accumulated experienced in design and project execution, and a diversified service portfolio, the Group will actively explore opportunities derived from the urbanisation development in Asia that has remained steady in recent years.
Furthermore, perceiving the market potential of new technology and design sectors, the Group is in process of enhancing its business edge by leveraging its 3D scanning and printing technology; and design services for amusement parks and entertainment centers. The 3D-related disciplines and thematic design services of the Group has competed the trials and testing periods, which it is believed that they are well equipped to handle the actual needs of current construction industry as well as its consumer segment, and are ready to be introduced to market in 2015.
Mr. Ivan Fu, Chief Executive Officer of C Cheng, concluded, "In view of the growth in housing construction volume and land supplies in Hong Kong will remain sustainable in 2015, business operations in Hong Kong are expected to make substantial contribution to the Group's revenue. Together with other upcoming favourable opportunities, including the relatively stable economy prospect in local market and the rising momentum of urbanisation in Asia Pacific region, and our efforts in pursuing excellence in design and efficiency in executions for traditional sectors, we have optimistic view towards the Group's prospect. Moreover, we intend to strengthen our network and increase our participation in the overseas market to maximise our capacity to undertake new clientele and stimulate business growth; and ultimately deliver fruitful results to our shareholders."
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
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From the Asia Corporate News Network
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