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For the half year ended 30th
June 2008, although Group Revenue eased 13%, Gross Margin
remained steady. Increasing sale of cars region-wide helped
to cushion declining sale of cars in Singapore. Generally,
Net Profit took a drop of 21% mainly because of the
following factors:
- High start up and infrastructural
costs from the continuing expansion of regional network
which includes increased distribution and administrative
costs to promote the business
- Retrofitting costs to existing
rental properties to attract better tenancy and higher
returns
- Declining interest income
- Slow sale of remaining units of
terraced housing at Oasis @ Mulberry
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| Hong Kong, 31 July 2008 |
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