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Suncorp Technologies Limited — Earnings Release 2015
Mar 7, 2016
49658_rns_2016-03-07_da48d789-50bd-4d56-a75f-8d7063a2bd98.pdf
Earnings Release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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FRONTIER SERVICES GROUP LIMITED 先豐服務集團有限公司 *
(incorporated in Bermuda with limited liability)
(Stock Code: 00500)
PROFIT WARNING
This announcement is made pursuant to the Listing Rules and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Future Ordinance (Chapter 571 of the laws of Hong Kong).
The Board wishes to inform the Shareholders and potential investors that based on the information currently available to the Board, the Group expects to record a loss for the year ended 31 December 2015 as opposed to a profit for the six months ended 30 June 2015.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.
This announcement is made by Frontier Services Group Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Future Ordinance (Chapter 571 of the laws of Hong Kong).
The board (the “ Board ”) of directors of the Company (the “ Directors ”) wishes to inform the shareholders of the Company (the “ Shareholders ”) and potential investors that, based on the information currently available to the Board, the Group expects to record a loss of up to approximately HK$143 million for the year ended 31 December 2015 as opposed to an unaudited profit of HK$142.6 million (mainly resulted from the gain of HK$263.8 million on disposal of available-for-sale financial assets) for the six months ended 30 June 2015.
The expected loss is primarily due to the write-off of goodwill of approximately HK$95 million, which was arisen from the acquisition of Frontier Services Limited, a subsidiary of the Company, in December 2013, and the impairment of certain property, plant and equipment of up to approximately HK$63 million.
- For identification purposes only
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The Company is still in the process of finalising its audited consolidated financial statements for the year ended 31 December 2015. The information contained in this announcement is only based on the information currently available, which has not been reviewed nor audited by the Company’s auditors, to the Board. Shareholders and potential investors are advised to read carefully the announcement of the annual results of the Company for the year ended 31 December 2015, which is expected to be released on or before 31 March 2016.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.
By Order of the Board FRONTIER SERVICES GROUP LIMITED Chan Kam Kwan, Jason Company Secretary
Hong Kong, 7 March 2016
As at the date of this announcement, the executive Directors are Mr. Erik D. Prince (Chairman), Mr. Ko Chun Shun, Johnson (Deputy Chairman), Mr. Luo Ning (Deputy Chairman), Mr. Gregg H. Smith (Chief Executive Officer) and Mr. Hu Qinggang; and the independent non-executive Directors are Mr. Yap Fat Suan, Henry, Professor Lee Hau Leung, Mr. William J. Fallon and Dr. Harold O. Demuren.
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