Guoco : Announcement - Announcement of Audited Financial Results for the Year Ended 30 June 2019 of Subsidiary - GuocoLand Limited

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ANNOUNCEMENT OF AUDITED FINANCIAL RESULTS

FOR THE YEAR ENDED 30 JUNE 2019

OF SUBSIDIARY - GUOCOLAND LIMITED

THIS ANNOUNCEMENT IS MADE BY GUOCO GROUP LIMITED ("GUOCO") PURSUANT TO PART XIVA OF THE SECURITIES AND FUTURES ORDINANCE AND RULE 13.09(2)(a) OF THE RULES GOVERNING THE LISTING OF SECURITIES ON THE STOCK EXCHANGE OF HONG KONG LIMITED TO PROVIDE SHAREHOLDERS OF GUOCO WITH FINANCIAL INFORMATION ON A LISTED SUBSIDIARY OF GUOCO, GUOCOLAND LIMITED, WHICH HAS ANNOUNCED ON 23 AUGUST 2019 ITS AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2019.

GuocoLand Limited ("GuocoLand"), a subsidiary of Guoco and listed on Singapore Exchange Securities Trading Limited ("SGX-ST"), has announced on 23 August 2019 the audited financial results of GuocoLand and its subsidiaries (the "GuocoLand Group") for the year ended 30 June 2019. The summary of the audited financial results of the GuocoLand Group for the year ended

30 June 2019 together with the comparative figures of the preceding financial year are provided below:

GuocoLand Limited

Summary of the audited financial results of the GuocoLand Group for the year ended 30 June 2019

(Note: The expressions "Company", "$"and "cents" mean "GuocoLand", "Singapore dollars" and "Singapore cents" respectively.)

		Year ended			Year ended
		30/06/2019	30/06/2018
					(Restated)#
		$'000			$'000
Revenue	926,957	1,141,669
Cost of sales	(631,102)	(790,054)
Gross profit	295,855			351,615
Profit before tax	309,0200	484,044
Tax expense	(21,404)	(61,539)
Profit for the year	287,6160			422,505
Profit attributable to:
Equity holders of the Company	255,674	413,207
Non-controlling interests	31,942	9,298
Profit for the year		287,616			422,505

#The comparative figures have been restated to take into account the retrospective adjustments relating to SFRS(I) 1 and 15.

Dividend

The board of directors of GuocoLand has recommended a first and final dividend of 7 cents (2018: 7 cents) per ordinary share.

Remarks: Details of the audited financial results of the GuocoLand Group for the year ended 30 June 2019 are accessible at SGX-ST's website (http://www.sgx.com) and are also posted by Guoco as an overseas regulatory announcement on the websites of The Stock Exchange of Hong Kong Limited (http://www.hkexnews.hk) and Guoco (http://www.guoco.com).

The audited financial results of the GuocoLand Group for the year ended 30 June 2019 will be consolidated in the group accounts of Guoco after adjustments in accordance with the accounting principles generally accepted in Hong Kong.

By Order of the Board

Stella Lo Sze Man

Company Secretary

Hong Kong, 23 August 2019

As at the date of this announcement, the board of directors of Guoco comprises Mr. Kwek Leng Hai as Executive Chairman; Mr. Tang Hong Cheong as President & CEO; Mr. Kwek Leng San as Non-executive Director and Mr. Volker Stoeckel, Mr. Roderic N. A. Sage and Mr. David Michael Norman as Independent Non-executive Directors.