Applied Development Holdings Limited announced earnings guidance for the year ended 30 June 2015. For the period, the Group is expected to record a profit for the year ended 30 June 2015 as compared to a loss of approximately HKD 96.1 million recorded for the year ended 30 June 2014. The turnaround of the Group's results is mainly attributable to (i) an interest income on promissory note receivable from a joint venture of approximately HKD 10.9 million (non-cash item); (ii) an estimated increase in fair value of investment properties of approximately HKD 33.1 million (non-cash item); and (iii) a decrease in administrative expenses of approximately HKD 14.2 million recorded for the year ended 30 June 2015 as compared to (i) an impairment loss (net estimated imputed interest expenses) on promissory note receivable from a joint venture of approximately HKD 22.9 million (non-cash item) and (ii) a decrease in fair values of investment properties of approximately HKD 32.1 million (non-cash item) recorded for the year ended 30 June 2014.