[ET Net News Agency, 7 July 2020] Kingboard Holdings Limited (00148) said for the six
months ended 30 June 2020, the KBH Group is expecting to record a decrease in net profit
of approximately 25% to 30% as compared with the corresponding period last year.
Also, Kingboard Laminates Holdings Limited (01888) said for the six months ended 30 June
2020, the KBL Group is expecting to record a decrease in net profit of approximately 30%
to 35% as compared with the corresponding period last year.
The expected decrease in the net profits of the KBH Group is primarily attributable to
the unrealised loss on fair value changes of equity instruments at fair value through
profit or loss, and is, to a lesser extent, attributable to the challenging business
environment posed by the COVID-19 pandemic during the first half of 2020. That being said,
the KBH Group has recorded a substantial increase in the net profits in the reporting
period attributable to the sale of residential properties as compared with the
corresponding period last year.
The expected decrease in the net profits of the KBL Group is primarily attributable to
the unrealised loss on fair value changes of equity instruments at fair value through
profit or loss and the decrease in the interest income from debt instruments, and is, to a
lesser extent, attributable to the challenging business environment posed by the COVID-19
pandemic during the first half of 2020. (RC)