Retail ops boost China Resources interim results

09 Sep '05

3 min read

Hong Kong based well-diversified firm China Resources Enterprise Announced Interim Results for 2005.

- Turnover rose by 12 percent to HK$25.3 billion, led by the retail and beverage businesses

- Earnings grew by 70 percent to HK$1,262 million with all operations under management showing improvement in profitability

- Excluding the after-tax effect of revaluation of investment properties, which led to a HK$326m gain, underlying net profit was up 26 percent

- Interim dividend of HK13¢ declared, an 18 percent increase China Resources Enterprise Announced Interim Results for 2005 “Flourishing Business in its Evolving Form” [Hong Kong, 8 September, 2005] China Resources Enterprise Limited announced its interim results for the six months ended 30 June, 2005 today.

Consolidated turnover reached HK$25.3 billion, led by the retail and beverage businesses, representing an increase of 12 percent from last year. Profit attributable to Company's shareholders grew by 70 percent to HK$1,262 million with all operations under management showing improvement in profitability.

Excluding the after-tax effect of revaluation of investment properties, which led to a HK$326 million gain, underlying net profit was up 26 percent. Earnings per share rose by 66 percent to HK59¢. The Board of Directors declared an interim dividend of HK13¢ per share, an 18 percent increase from the same period in 2004. During the period, earnings contribution from retail business surged 66 percent to HK$105 million.