GA Holdings Ltd. Announces Unaudited Consolidated Earnings Results for the Three and Six Months Ended June 30, 2014
August 07, 2014
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GA Holdings Ltd. announced unaudited consolidated earnings results for the three and six months ended June 30, 2014. For the quarter, the company reported that revenue was HKD 76,396,000 compared to HKD 78,136,000 a year ago. Profit from operating activities was HKD 24,926,000 compared to HKD 24,354,000 a year ago. Profit before income tax was HKD 22,465,000 compared to HKD 21,294,000 a year ago. Profit attributable to owners of the company was HKD 19,630,000 or 4.12 cents per basic and diluted share compared to HKD 14,106,000 or 2.96 cents per basic and diluted share a year ago.
For the six months, the company reported that revenue was HKD 159,386,000 compared to HKD 181,289,000 a year ago. The decrease was mainly attributable to the decrease in segment in sales of motor vehicles and technical fee income despite there was an increase segment in servicing of motor vehicles and sales of auto parts. Profit from operating activities was HKD 40,907,000 compared to HKD 48,232,000 a year ago. Profit before income tax was HKD 36,675,000 compared to HKD 41,846,000 a year ago. Profit attributable to owners of the company was HKD 29,511,000 or 6.20 cents per basic and diluted share compared to HKD 35,481,000 or 7.45 cents per basic and diluted share a year ago. The decrease was mainly due to the decreased revenue generated from the segments in sales of motor vehicles and technical fee income as well as the increase in other expenses in relation to the new dealership acquired since the last quarter of 2013. Net cash used in operating activities was HKD 22,223,000 compared to HKD 26,475,000 a year ago. The Group acquired items of property, plant and equipment with total cost of approximately HKD 14,120,000 compared to HKD 6,402,000 a year ago.
G.A. Holdings Limited is a Singapore-based investment holding company. The Company is engaged in the sales of motor vehicles and provision of car-related technical services, servicing of motor vehicles, sales of auto parts and provision of car rental services. The Company's segments include Motor vehicle sales and services business, and Car rental business. Its Motor vehicle sales and services business is engaged in the operations of motor vehicle distribution and dealership business, which includes sales of motor vehicles and provision of after sales services. It is also involved in other motor vehicle related business, which includes operations of motor vehicle service shops, sales of auto parts, provision of car-related technical services and other value-added motor vehicle services. Its subsidiaries include German Automobiles Pte Ltd., German Automobiles Limited (GAL), Xiamen BMW Automobiles Service Co., Ltd., and Fujian Xingbao Automobiles Sales and Service Co., Ltd.