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HONG KONG, May 3, 2021 - (ACN Newswire) - IBI Group Holdings Limited ("IBI" or the "Group"; Stock Code: 1547), a publicly listed holding company that holds investments in companies focused on the Built Environment, is pleased to announce a positive profit alert. Based on a preliminary review of the unaudited consolidated management accounts of the Group, the Group is expected to record a net profit attributable to the owners of the Company of approximately HK$51.9 million to HK$56.2 million for the year ended 31 March 2021, representing an increase of approximately 140% to 160% as compared to a net profit of approximately HK$21.6 million for the year ended 31 March 2020, primarily attributed to the significant increase in realised and un-realised fair value gain from investments in listed equities.
Mr. Neil Howard, Chairman and CEO of IBI, said, "We are pleased to record remarkable results amid this challenging year with COVID-19 ravaging the global economy on an unprecedented scale. During the year, we have made good use of our internal resources and have invested in numerous international blue-chip companies with a long history and strong fundamentals. Despite the impact of the COVID-19 pandemic, we are pleased to generate a significant increase in our income for the Group. On the other hand, our core business continued to deliver stable performance despite the challenging environment. We have completed a number of construction projects during the year including luxury projects for the Hong Kong Jockey Club and the Man Wah and Aubrey restaurants for the Mandarin Hotel in Central. Armed with the strong foundation of our core business, as well as the outstanding performance of our strategic investments, it is believed that we are well-positioned to capture future opportunities that will maximise value for our shareholders."
About IBI Group Holdings Limited (stock code: 1547)
IBI Group Holdings Limited is a publicly listed holding company on the Hong Kong Stock Exchange, focused on investments in the Built Environment. The Group's investments whilst principally centering around the role of contracting, include businesses providing innovative, high quality manufacturing and supply solutions across a diverse range of the built environment. Our mission is to deliver premium products, services and customer experiences with a strong influence of innovation, sustainability and wellness. For more information, please refer to IBI's website: https://ibighl.com/.
Topic: Press release summary
Source: IBI Group Holdings Limited
Sectors: Construct, Engineering
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From the Asia Corporate News Network
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