Carnival Group International Holdings Limited reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the six months, the company reported revenue of HKD 859,549,000. Revenue was derived from the delivery of the phase I residential units of the properties under development in Qingdao pre-sold before the first half of 2014.

Profit before tax was HKD 15,844,000 compared to loss before tax of HKD 211,695,000 a year ago. Profit for the period was HKD 59,448,000 compared to loss for the period of HKD 196,237,000 a year ago. Profit for the period attributable to owners of the company was HKD 8,574,000 compared to loss for the period attributable to owners of the company of HKD 164,766,000 a year ago.

The increase in profit was mainly due to the gross profit of approximately HKD 118.9 million from the sales of properties in Qingdao, the decrease in finance cost of approximately HKD 55.6 million and the decrease in the provision for administrative expenses arising from the extension of property sale contract amounting to approximately HKD 48.6 million. Basic and diluted earnings per share was HKD 0.066 compared to basic and diluted loss per share of HKD 3.75 a year ago. Adjusted EBITDA was HKD 216,173,000 compared adjusted LBITDA of HKD 109,680,000 a year ago.