China South City (01668) said its profit attributable to owners of the parent for the year ended 31 March 2016 dropped 5.1% year-on-year to HK$3,537 million.
Core net profit attributable to owners of the parent amounted to HK$1,206 million, a decrease of 35% from a year earlier.
Basic and diluted earnings per share were HK44.22 cents and HK44.05 cents.
The revenue was HK$6,136 million, a decrease of 37.1% from a year earlier. Contracted sales fell 41.5% to HK$6,628 million.
Gross profit dropped 42.8% to HK$2,959 million. Gross profit margin decreased to 48% from 53%, which was mainly due to the change in product mix of sales with a higher portion of residential properties which had a relatively lower profit margin, and offset the effect of increased recurring income and the receipt of government development grants in certain projects.
The proposed final dividend is HK5 cents (2015: HK14 cents) per share, payable on or about 12 September 2016.
28/06/2016 09:31
China South City year net down 5% to HK$3.54bn; div HK5 cts
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