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| Thursday, 19 March 2015, 21:00 HKT/SGT | |
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| Profit attributable to shareholders over 221 million, representing an increase of 15.9% |
HONG KONG, Mar 19, 2015 - (ACN Newswire) - Chu Kong Shipping Enterprises (Group) Company Limited ("CKS" or the "Company") (HK stock code: 560), one of China's largest passenger and cargo shipping service providers in the Pearl River Delta Region covering Guangdong Province, Hong Kong and Macau, is pleased to announce the annual results of the Company and its subsidiaries (the "Group") for the twelve months ended 31 December 2014 (the "Reporting Period").
During the Reporting Period, the Group recorded a revenue of HK$ 1,828.9 million, representing an increase of 12.9% as compared with the corresponding period of last year. Profit attributable to equity holders was HK$ 221,268 million representing an increase of 15.9% as compared with the corresponding period of last year. Gross profit of the Group during the Reporting Period was HK$ 440 million, representing an increase of 8.4% as compared with the corresponding period of last year. Basic earnings per share of the Company during the Reporting Period was HK24.59 cents representing an increase of 15.9% as compared with the corresponding period of last year. The board declared a final dividend of HK6.0 cents per ordinary share.
In 2014, China's economy entered into the period of New Normal. The Group by following the overall goal of "improving with stability, striving for innovations", with the presence among Guangdong, Hong Kong and Macau, has endeavored in marketisation, enhanced the operation professionalisation, and driven the reform and innovation. The Group has received remarkable results with expanded businesses, increased revenues and enhanced proficiencies.
Terminal and Logistic Business
The businesses and results of freight segment have both recorded steadily growth in 2014. The Group continued to capitalise on its regional leading advantages in the region, promoted professionalised operation, and brought into full play the function of "Consolidated CKTL" platform, resulting in a stable growth of its major businesses. During the year, container transportation volume recorded an increase of 12.2%, and break bulk cargoes transportation volume experienced a slight decrease of 1.4% year-on-year. Driven by the recovery of the market and the renewable resources cargoes, container businesses recorded volume growths in both import and export. Container handling volume and break bulk cargoes volume recorded an increase of 13.4% and 8.6% respectively and volume of container hauling and trucking increased by 9.5% year-on-year. The profit of freight business recorded HK$117,392,000 in the year, representing a year-on-year increase of 20.5%
The Group has accelerated the construction and enhanced the capacity of the terminals. By improving service functions of the terminals, the Group has achieved steady growth in terminal throughput volume, in which container handling volume of Gaoming Port, Sanbu Port and Heshan Port has increased 15.2%, 16.2% and 25.8% year-on-year, respectively. Meanwhile, the Group has been actively promoting the shift of its major business from traditional to modern logistics. Firstly, the Group has actively explored the business of integrated logistics, especially in bulky cargo logistics and modern warehousing business. The customised warehouse projects developed in Tuen Mun Terminals were conducive to the further expansion of business. Secondly, the Group has expanded the bonded warehouse business through the terminals in mainland China and Nansha Logistic Park which is owned by the parent company. The Civet Port will be developed as an integrated logistics center in the Zhuhai region and the bridgehead of Hong Kong-Zhuhai-Macau Bridge. Nansha Logistics Park will further extend business such as cross-border e-commerce and bonded logistic. Thirdly, the Group will develop "Internet+" strategy, facilitate the integration of Internet, Wireless Sensor Networks and contemporary logistic business to create modern, e-logistic operation model. The Group has developed cross-border e-commerce and logistic in advance and expects a potential growth in the near future.
Passenger Transportation Business
Due to increased number of routes for ticket agency services, the passenger transportation business of the Group continued to see a stable growth. During the year, the total number of passengers for agency services of the Group was 6,789,000, representing a year-on-year increase of 4.5%. The flights for airport routes continued to optimised, with 2,072,000 passengers recorded for agency services, representing a year-on-year increase of 7.1%. The total number of passengers for terminal services of the Group was 7,829,000, representing a year-on- year increase of 6.6%. Benefited from the lower oil prices and refined management, the overall profit contributed by passenger transportation business continued to grow, with a profit of HK$120,971,000 during the year, representing a year-on-year increase of 3.9%
The Group constantly applied innovative management models and consolidated its advantages of urban routes and airport routes. During the year, due to the newly added ticket agency service for the urban route of Shekou, Shenzhen, the market share of the Group in water-way high-speed passenger transportation increased to 94.3%, which was almost whole coverage in the market between Hong Kong and Guangdong, the urban route of Gaoming-Hesha and Shekou for instance, the number of passengers rose 28% and increased 18 times respectively. Along with the increase in number of flights and continuous improvement in the services like pre-boarding procedures and direct baggage transfer, the number of passenger tickets sales for agency services of the airport routes in Zhongshan and Zhuhai was boosted a significant increase by 41.2% and 14.4% respectively during the year. The Group actively promoted the strategy of "tourist transportation" by commencing all-round cooperation with well-known theme parks during the year and boosted the number of passengers for the routes in Zhuhai. The Group will further strengthen market development and seek for overseas business growth through overseas marketing and the expansion of tourism passenger transportation network.
Mr. Xiong Gebing, Managing Director of CKS, said,"According to what the government states, China will facilitate the building of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, put forward the "The Belt and Road" initiative and accelerate the implementation of the free trade zone policy to further promote the establishment of Shanghai, Guangdong, Tianjin, Fujian pilot free trade zone. In 2015, the Group will conduct in-depth studies on the State's policies to capture and explore generated opportunities from strategic 'The Belt and Road Initiatives' policy and construction of Free Trade Zone. The acquired assets of the Group in Zhuhai bonded area, and the layout of Nansha of the Group and the parent company will benefit directly from the increased trade volume in Free Trade Zone which will become one of the driven factors for future business growth. This year, the Group will deepen the strategic cooperation with large enterprises to enhance the industry value chain; take an active role in development and attaining a win-win situation. The Group will also ensure a stable growth in shipping logistics and high speed passenger transportation business to promote a steady development.
About Chu Kong Enterprises (Group) Co., Ltd.
Chu Kong Enterprises (Group) Co., Ltd. ("CKS") is a listed company incorporated in Hong Kong held by Chu Kong Shipping Enterprises (Holdings) Co., Ltd. ("CKSE") and subject to Guangdong Province Navigation Holdings Co., Ltd. Its strategic orientation is "based in Hong Kong, backed by the mainland and facing the world" and is principally engaged in terminal logistics, high-speed waterway passenger transportation and tourist business between Hong Kong, the Pearl River Delta Region (PRD) and coastal areas. After years of development, CKS owns 20 PRD inland barge terminals and operates more than 35 container barge routes, as well as 18 bulk freight routes with 17 passenger destinations and with 18 passenger routes. It also manages the fleet of Cotai Jet, and the passenger transportation business in Skypier, Hong Kong International Airport. CKS is one of the leading enterprises in the PRD waterway logistics and high-speed waterway passenger transport industry.
Topic: Press release summary
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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