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| Sunday, 13 November 2011, 18:00 HKT/SGT | |
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Source: Sound Global | |
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HONG KONG, Nov 13, 2011 - (ACN Newswire) - Sound Global Ltd. ("Sound Global" or the "Company", HKSE: 0967) announced its unaudited consolidated results of the Company and its subsidiaries (the "Group") for the nine months ended 30 September 2011 (the "Reporting Period").
-- Revenue increased by approximately 38.8% to RMB1,686.5 million;
-- Profit attributable to owners of the company increased by approximately 70.2% to RMB306.9 million;
-- Gross profit increased by approximately 52.8% to RMB547.0 millionover last year;
As at the Reporting Period, profit attributable to owners of the Group increased by 70.2% from approximately RMB 180.4 million in the same period of last year to approximately RMB306.9million. The Group's revenue increased by 38.8% from approximately RMB1,215.4 million in the same period of last year to approximately RMB1,686.5million. The increase was mainly attributed to: (1) increased contribution from the Operation and Maintenance("O&M")segment of approximately RMB30.0million from RMB11.0million in the same period of last year to RMB41.0 million as certain Build-Operate-Transfer ("BOT") projects started operations; and (2) increased contribution from the turnkey engineering, procurement and construction ("EPC") services amounting to approximately RMB494.3million from RMB1,113.4 million in the same period of last year to RMB1,607.7million, partly contributed by the increased revenue from the Saudi Arabia project and the Group continues to bid for EPC projects in China.
As at the Reporting Period, the Group's gross profit increased by 52.8% from approximately RMB358.0 million in the same period of last year to approximately RMB547.0 million. The gross profit margin increased by approximately 2.9 percentage points from approximately 29.5% to approximately 32.4%.
As at the Reporting Period, the Group's cash position remained strong and stood at approximately RMB1,800.3 million.
The Group will continuously expand its share in the Engineering, Procurement and Construction ("EPC") market and consolidate its leading market position by proactively seeking Sewage Treatment Plant Upgrade and Improvement Project, followed by the adoption of more stringent regulatory standard by the PRC government in respect to zero discharge of industrial sewage and recycling, improvement projects from industrial sewage treatment sector will be undertaken. At the same time, the Group will continue to explore O&M markets vigorously, and will continue to expand its international business, extending its coverage to emerging markets and developing countries such as the Middle East and Southeast Asia regions, in order to satisfy the enormous demand from such regions. Furthermore, the sewage treatment market for small towns is still in its beginning stage, which will be a new strategic target in the PRC following the sewage treatment projects for large and middle-sized cities. In the future, a rapid growth in the construction of sewage treatment plants for small-sized cities is expected. By fully leveraging on our strengths in the technology, management and integrated industrial chain, as well as developing and applying the state-of-art patent technology similar to SMART patent technology, the Group, through centralized, modularized and clustered management, will formulate an economically viable solution for the environmental management in the rural areas in the PRC.
Contact:
Wonderful Sky Financial Group Company Limited
Echo Hu / Snow Yang / Peter Fung / Anni Li
Ext: +852 3970 2185 / 3970 2137 / 3970 2180 / 3970 2136
Fax: +852 2598 1588 / 2865 1638
Email: echohu@wsfg.hk / snowyang@wsfg.hk / peterfung@wsfg.hk / annili@wsfg.hk
Topic: Earnings
Source: Sound Global
Sectors: Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
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